News Topic: Arbitration

In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses. ... Read full article

In a deregulatory environment, a rule that better enables consumers to bring class actions could lead to an explosion of litigation, which will affect product availability and pricing. ... Read full article

The San Francisco bank is embroiled in a high-stakes legal battle over the use of arbitration in disputes involving overdraft fees at the same time that adversaries are portraying the scandal-plagued bank as the poster child for why reform is necessary. ... Read full article

The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank. ... Read full article

Readers weigh in on the end of President Trump's business councils, what the Charlottesville, Va., clashes mean for banks, OSHA's mishandling of Wells Fargo whistleblower claims, community banks' embrace of blockchain, and more. ... Read full article

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules. ... Read full article

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more. ... Read full article

Sen. Elizabeth Warren, D-Mass., sent a letter to 16 big banks asking them if they support a GOP effort to overturn the CFPB arbitration rule. ... Read full article

Staff for House Financial Services Committee Chairman Jeb Hensarling said that CFPB Director Richard Cordray is continuing to ignore subpoenas on the agency's work on the arbitration rule. ... Read full article

The financial services industry is at risk of being caught flat-footed if a legislative measure to rescind the Consumer Financial Protection Bureau’s rule regulating arbitration agreements fails to pass. ... Read full article

Democrats on the House and Senate banking committees are urging Republicans to hold hearings with Wells Fargo's top executives over its phony-accounts and force-placed insurance scandals. ... Read full article

Acting Comptroller Noreika says he will defer to Congress to determine whether the rule requiring mandatory arbitration should be killed; Bitcoin Cash to start trading but is causing confusion in the digital currency market. ... Read full article

Four Republican senators are seen as possible defectors on a vote to repeal the CFPB's arbitration rule, while another senator may be absent, which will make the GOP's job harder. ... Read full article

Republicans need just 50 votes in the Senate to repeal the CFPB's rule banning mandatory arbitration, but some key GOP senators remain on the fence. ... Read full article

Acting Comptroller of the Currency Keith Noreika said Monday that he would not interfere with the Consumer Financial Protection Bureau's rule banning mandatory arbitration after missing a key deadline to appeal the regulation. ... Read full article

Republican efforts to repeal the Consumer Financial Protection Bureau's arbitration rule were dealt a significant blow Friday by another Wells Fargo scandal. ... Read full article

Readers react to the CFPB’s final arbitration rule, a new potential hurdle for initial coin offerings, a housing finance reform proposal and more. ... Read full article

The Consumer Financial Protection Bureau is likely to finalize its small-dollar rule by September ahead of Director Richard Cordray's widely expected departure. ... Read full article