We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close


CFPB Rule Opens Door To Total Ban On Arbitration Clauses

Law360, New York (July 12, 2017, 8:52 PM EDT) -- The Consumer Financial Protection Bureau’s recent rule-making eliminating class action bans in mandatory arbitration agreements also includes a provision that could give the bureau the raw data it was previously unable to gather to ban arbitration clauses altogether, experts say.

Along with the class action portion of the rule, the CFPB will require banks and other consumer financial services providers to hand over all documents related to individual arbitrations they enter into. Those documents would then be posted on the agency’s website with identifying information redacted....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.