Arbitration

Senate votes to repeal CFPB arbitration rule in win for financial institutions

10/25/17

Republicans were able to use an obscure legislative process to overturn a rule that banks and credit unions feared would raise their litigation costs.

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Treasury ignored benefits of CFPB’s arbitration rule: Cordray

10/24/17

Consumer Financial Protection Bureau Director Richard Cordray pushed back against a Treasury Department report critical of the bureau's arbitration rule, saying it overlooked how class action lawsuits help consumers.

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Four questions as Senate vote nears on CFPB arbitration rule

10/24/17

The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, and the fallout could be significant for all sides.

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Credit unions’ opposition to CFPB arbitration rule makes no sense

10/24/17

Why are credit unions lending their name to this fight when the vast majority of them do not use forced arbitration and have not been caught up in Wall Street’s excesses?

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CFPB claims challenged; HSBC FX trader convicted

10/24/17

Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank.

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Fight to kill CFPB arbitration rule could rest on whose data is right

10/23/17

With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data.

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Treasury says CFPB arbitration rule hurts consumers

10/23/17

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.

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OCC-CFPB spat takes interagency discord to new level

10/18/17

Regulators usually avoid the public fights that define other realms of the polarized Washington landscape, but the recent tiff over the arbitration rule is an exception.

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CFPB fires back at OCC's criticism of arbitration rule

10/13/17

The Office of the Comptroller of the Currency used "flawed statistics" and misstated the effects of the Consumer Financial Protection Bureau's arbitration rule on community banks, Director Richard Cordray said Friday.

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OCC's Noreika urges Senate to vacate CFPB arbitration rule

10/13/17

In an op-ed, acting Comptroller of the Currency Keith Noreika argued that allowing consumers to sue financial institutions in class actions would raise credit costs and harm small banks.

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