Rumor: Arbitration rule coming in July, Cordray to leave CFPB

Last December, the CFPB released it Fall Unified Regulatory Agenda which outlined the Bureau’s regulatory priorities for the subsequent six months. In their semi-annual regulatory agenda, the CFPB set a February 2017 target to issue its final arbitration rule. It is nearly July and the CFPB still has not issued the rule. Most observers [...]

By | 2017-06-24T15:36:57+00:00 June 24th, 2017|Arbitration, Politics|0 Comments

Non-profit files FOIA request for CFPB arbitration rule records

The Cause of Action Institute (“CoA Institute”) has filed an action against the CFPB under the Freedom of Information Act (FOIA) seeking access to records the CFPB has maintained relating to the Bureau’s arbitration study and rulemaking that is designed to prohibit the use of mandatory binding pre-dispute arbitration clauses in financial services contracts. [...]

By | 2016-12-15T00:00:43+00:00 December 15th, 2016|Arbitration, CFPB Rulemaking, Uncategorized|0 Comments

House Subcommittee Questions CFPB’s Arbitration Rule

On Wednesday, May 18, the House Financial Institutions and Consumer Credit Subcommittee held a hearing entitled, “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the Public Interest and for the Protection of Consumers?” The hearing follows the release of Consumer Financial Protection Bureau’s (CFPB) Notice of Proposed Rulemaking covering the use of arbitration [...]

By | 2016-05-20T00:00:45+00:00 May 20th, 2016|Arbitration, CFPB Rulemaking, Uncategorized|0 Comments

CFPB issues proposed arbitration rule

On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) held a field hearing in Albuquerque, New Mexico to announce the release of its proposed rule regarding the use of arbitration agreements in consumer financial services contracts. The proposed rule would prohibit covered providers of certain consumer financial products and services from using arbitration agreements [...]

By | 2016-05-10T00:00:27+00:00 May 10th, 2016|Arbitration, CFPB Rulemaking, Uncategorized|0 Comments
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