CFPB Chief Urges Trump To Keep Arbitration Rule Alive

By Evan Weinberger (October 30, 2017, 5:27 PM EDT) -- The Consumer Financial Protection Bureau's leader on Monday urged President Donald Trump to veto a congressional resolution to eliminate an arbitration rule that would give consumers the chance to file class actions against banks and other financial firms.

CFPB Director Richard Cordray asked the president to uphold the federal consumer finance watchdog's rule that would stop banks and other companies from including class action bans in arbitration clauses in the fine print of contracts with consumers. Using the Congressional Review Act, the U.S. Senate voted 51-50 last week to overturn the rule, with Vice President Mike Pence casting the deciding vote...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!