Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.
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.
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.
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.
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.
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.
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.
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.
