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On July 19, 2017, the CFPB published its final arbitration rule in the Federal Register. The rule has an effective date of September 18, 2017 and a mandatory compliance date of March 19, 2018. Under [...]
On July 19, 2017, the CFPB issued HMDA Loan Scenarios to provide additional guidance to the industry on reporting transactions under the revised HMDA rule. Most provisions from the revised rule will take effect on January [...]
On July 10, the CFPB issued its much-anticipated final arbitration rule which prohibits covered entities from including mandatory arbitration clauses in contracts that block class-action litigation. The rule will become effective 60 days after publication [...]
Earlier this week, CFPB Director Richard Cordray acknowledged the possibility that the Bureau’s arbitration rule could be rolled back by a CRA vote but claimed that he did not factor Congressional opposition into his [...]
Today, the CFPB announced that it has issued its final rule on arbitration. The Bureau also released a short video explaining the arbitration rule. The much-anticipated rule targets providers of certain consumer financial products [...]
Last June, the CFPB held a field hearing in Kansas City, Missouri to announce the release of the consumer watchdog agency’s highly anticipated proposed rule covering payday and auto title loans, and certain high-cost [...]