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Class Action › Consumer Financial Contracts › Financial Services Industry

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

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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

Ballard Spahr LLP

Class Actions Are Testing the Limits of California Consumers’ “Right to Gripe”

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On September 9, 2014, then-Governor Jerry Brown of California signed into law Assembly Bill No. 2365. The law, which went into effect in January of 2015, prohibits contracts for the sale or lease of consumer goods from...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

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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

Dorsey & Whitney LLP

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

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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

Ballard Spahr LLP

House FY 2017 appropriations bill would curb CFPB authority, require another arbitration study

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The fiscal year 2017 appropriations bill approved last week by the House Financial Services and General Government Appropriations Subcommittee of the House Appropriations Committee includes the following provisions intended...more

Ballard Spahr LLP

CFPB Releases Spring 2016 Rulemaking Agenda

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The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

Eversheds Sutherland (US) LLP

Class Action Report: 2010-2015

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Over the last decade, the U.S. Supreme Court issued a string of opinions with profound implications for the enforceability of arbitration provisions and class action waivers in consumer contracts. These decisions, the most...more

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