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Class Action › Consumer Financial Contracts › Congressional Review Act

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Ballard Spahr LLP

Lawmakers and AFSA oppose future arbitration rulemaking

Ballard Spahr LLP on

In connection with the petition to ban pre-dispute consumer arbitration agreements pending before the Consumer Financial Protection Bureau (CFPB) and a recent Senate Judiciary Committee hearing on “forced arbitration,”...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

Nutter McClennen & Fish LLP on

CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits - The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more

Brownstein Hyatt Farber Schreck

CFPB Moves to Eliminate Class Action Waivers in Arbitration Clauses, but Congress Looks to Keep the Rule Off the Books

Brownstein Hyatt Farber Schreck on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) unveiled a long-awaited and highly contentious final rule to severely curtail the scope of arbitration clauses in consumer financial contracts. While the rule...more

Goodwin

CFPB Finalizes Arbitration Rule, Paving the Way for More Class Action Litigation

Goodwin on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced the release of its anticipated Arbitration Rule, opening the door for more consumer class actions against financial institutions concerning financial...more

WilmerHale

CFPB Releases Final Rule Banning Certain Pre-Dispute Arbitration Agreements

WilmerHale on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB or the Bureau) announced its long-anticipated final rule to prohibit the use of pre-dispute arbitration agreements to block consumer class actions in contracts...more

Eversheds Sutherland (US) LLP

Spoiling for a Fight: CFPB Issues Ban on Class Waivers, Daring Congress to Act

Eversheds Sutherland (US) LLP on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited and controversial rule prohibiting class action waivers in consumer contracts. Unless Congress uses the Congressional Review Act (CRA)...more

Dorsey & Whitney LLP

Bad News and Good News – The CFPB’s Arbitration Rule

Dorsey & Whitney LLP on

Just when you thought that the practical operational restraints imposed by the new Administration had limited (i.e., handcuffed) the CFPB’s ability to engage in new mischief-making (i.e., new rule-making), today the CFPB...more

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