The federal lawmakers, in a letter sent to the head of the Consumer Financial Protection Bureau earlier this month, urged the bureau to consider including a provision in the final rule that allows financial companies to retain class action waivers in their arbitration clauses. Under the CFPB’s current proposal, companies would be prohibited from putting mandatory arbitration clauses in new contracts.
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced leadership changes within the agency, including new employees at the following positions – associate director for supervision, enforcement, and fair lending; principal deputy general counsel; and deputy chief operating officer.
BOSTON (Legal Newsline) — Massachusetts Attorney General Maura Healey has announced she is leading a coalition of 17 states and the District of Columbia in supporting the Consumer Financial Protection Bureau’s (CFPB) proposed rule to limit the use of mandatory pre-dispute arbitration clauses in contracts for financial products and services.
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) recently released proposed new rules designed to regulate payday, automobile title and some high-cost installment loans in an effort to protect consumers from the financial woes associated with frequent loan and overdraft fees.
LITTLE ROCK, Ark. (Legal Newsline) – Arkansas Attorney General Leslie Rutledge has released comments about the Consumer Financial Protection Bureau’s (CFPB) decision to move forward with federal standards and limitations on credit lines, installment loans, deposit advances, automobile-title secured loans and payday loans.