Surprising no one, the CFPB has proposed a rule that would ban mandatory arbitration clauses in consumer financial services contracts. The rule continues to ignore the legislative and judicial findings embodied in the Federal Arbitration Act and the cases interpreting it, the well-documented abuses associated with class action litigation, and the methodological and analytical flaws in the Bureau’s arbitration study.
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CFPB Proposes Banning Mandatory Arbitration Clauses
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