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 agreements containing class action waivers in consumer financial services contracts on May 5, 2016.


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