Subject to Inquiry

Subject to Inquiry


Government Investigations and White Collar Litigation Group

Tag Archives: arbitration clause

Compliance, Financial Institution Regulation

Senators Take Steps to Ban Arbitration Clauses in Telecommunications Contracts

On Thursday, April 28, 2016, Senators Al Franken (D-Minn.) and Richard Blumenthal (D-Conn.) proposed legislation that would ban arbitration clauses in telecommunication service contracts. The proposed bill, the Justice for Telecommunications Consumers Act of 2016, would invalidate “any agreement to arbitrate a dispute that has not yet arisen at the time of the making of… Continue Reading
Compliance, Financial Institution Regulation

CFPB Director Forecasts Rulemaking on Consumer Arbitration Clauses in American Constitution Society Speech

In the latest public pronouncement on the Consumer Financial Protection Bureau’s (CFPB’s) intention to engage in rulemaking to ban the use of certain arbitration clauses in consumer contracts – in particular, those that would limit consumer class relief – CFPB Director Richard Cordray recently elaborated on the CFPB’s goals in a speech to the American… Continue Reading
Financial Institution Regulation

CFPB Proposes Banning Some Arbitration Clauses, Resurrecting Consumer Contract Class Actions

On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is exploring a rulemaking to eliminate the use of certain arbitration agreements in consumer contracts that block consumers from participating in class-action lawsuits. If enacted, the new rule will impact companies that fall within the CFPB’s broad interpretation of businesses that provide… Continue Reading

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