Staying Ahead of the CFPB Arbitration Rule [SPONSORED]

When the Consumer Financial Protection Bureau was created, the Dodd-Frank Act gave the CFPB authority to study mandatory, predispute arbitration agreements. Before the CFPB could do anything, they needed to conduct this study, report to Congress, and then propose whatever rule they deemed in the consumer’s best interest. Last summer, the CFPB proposed a rule […]
  • EFG Companies
  • August 18, 2017

How Will the CFPB’s Arbitration Rule Impact You? [SPONSORED]

On July 10, the Consumer Financial Protection Bureau issued a rule banning companies from denying arbitration to groups of people. “The Consumer Financial Protection Bureau today announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court,” according to the agency’s press release. “Many consumer […]
  • EFG Companies
  • August 11, 2017

6 Compliance Topics Lenders Need to Watch

There was a lot of optimism in the business community following the 2016 election as dreams of tax reform and deregulation swirled around in CEO’s heads. But, in reality, it’s been a lot of the same partisan gridlock that tends to mire the process.   A partisan fight over healthcare continues to take up all […]
  • William Hoffman
  • August 1, 2017

CFPB Arbitration Rule to ‘Particularly’ Impact Credit Cards, Lawyer Says

The Consumer Financial Protection Bureau’s new arbitration rule issued Monday might have a “particular impact” on revolving credit programs in powersports, David Gemperle, partner at Nisen & Elliott LLC, told Powersports Finance. The rule bans companies from using arbitration clauses to deny groups of people their day in court. Financial institutions often have arbitration clauses in their […]
  • Natalie Mattila
  • July 14, 2017

CBA Opposes CFPB Arbitration Rule Before Deadline Closes

The Consumer Bankers Association submitted a public comment in opposition of the Consumer Financial Protection Bureau’s proposed arbitration rule yesterday, just under the wire. The public comment period for the proposed rule also ended yesterday. “The proposed rule should not be made final, as proposed, because it is not in the public interest or for […]
  • Larissa Padden
  • August 23, 2016