Null and void. The Consumer Financial Protection Bureau (CFPB)’s much debated, loved and hated arbitration rule has been officially killed through the rule’s being struck from the Federal Register. Thus, it’s current status: Nullification. As reported in several places, including CU Insight, the nullification ruling comes...
The White House announced that President Donald Trump signed a Congressional resolution allowing banks to block customers from filing class-action lawsuits. According to news from Reuters, the resolution kills a Consumer Financial Protection Bureau (CFPB) rule that was set to go into effect next spring, giving...
The arbitration clause rule has been formally smacked down by the U.S. Senate — after the 50-50 tie vote was broken by VP Mike Pence. Yes, the same Congress that has been unable to authorize health care for poor children for a month — or...
California, with the signature of Governor Jerry Brown, has officially passed a law that will make it easier for consumers to sue banks alleged to have created fraudulent accounts in their names. The legislation was inspired by the ongoing soap opera that is Wells Fargo....
September 12, 2017
One week ago, the CFPB’s arbitration rule seemed more or less doomed to the scrap heap of financial regulatory history. Although it was approved in final form by the CFPB in July – after a lengthy and contentious rulemaking process – Republican lawmakers vowed to strike down the law within 24 hours of its passage via the Congressional Review Act. The Comptroller of […]
July 17, 2017
The CFPB opens the door to class action suits, and possibly trial lawyer riches, while across the pond, some warnings on regulatory compliance rumble, and Barclays begins ring-fencing efforts.
July 11, 2017
Speak softly and carry a big rule. The CFPB yesterday proclaimed that arbitration is dead and long live class action law suits and the trial bar. And a rule that...
September 06, 2016
With the wide range of highly controversial subjects that fall under the CFPB’s purview, arbitration may come as something of a surprise. Unlike payday lending or prepaid card rules, which...
November 23, 2017
Null and void. The Consumer Financial Protection Bureau (CFPB)’s much debated, loved and hated arbitration rule has been officially killed through the rule’s being struck from the Federal Register. Thus, it’s current status: Nullification. As reported in several places, including CU Insight, the nullification ruling comes in the wake of President Donald Trump’s signing of a […]
November 02, 2017
The White House announced that President Donald Trump signed a Congressional resolution allowing banks to block customers from filing class-action lawsuits. According to news from Reuters, the resolution kills a...
October 24, 2017
The arbitration clause rule has been formally smacked down by the U.S. Senate — after the 50-50 tie vote was broken by VP Mike Pence. Yes, the same Congress that...
October 05, 2017
California, with the signature of Governor Jerry Brown, has officially passed a law that will make it easier for consumers to sue banks alleged to have created fraudulent accounts in...
