Examining the CFPB’s Arbitration Rule
Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.
August 19, 2017
Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.
August 19, 2017
The new rule is set to take effect 60 days after publication in the Federal Register. It comes more than two years after the bureau studied mandatory arbitration clauses and one year after it proposed to ban such clauses in consumer finance contracts.
July 10, 2017
A day after House Republicans called for the dismissal of CFPB Director Richard Cordray, the American Financial Services Association called on Congress to reform the bureau’s practices and amend its structure.
April 7, 2017
Auto dealer regulations face an uncertain future under the Trump presidency. Two California-based attorneys take a look at the road ahead for the CFPB, the FTC, and state regulators.
March 21, 2017
The bureau is seeking to ban pre-dispute arbitration clauses that block class action lawsuits. The proposals under consideration would allow companies to use arbitration for individual disputes, but would require those companies to submit to the CFPB the arbitration claims filed and awards issued.
October 7, 2015
More than 50 members of Congress have signed a letter urging the CFPB to issue new rules to eliminate the use of forced arbitration clauses in consumer financial service contracts.
May 28, 2015
The CFPB’s latest report on arbitration clauses has a lot of holes, leaving the magazine’s legal eagle wondering what the regulator’s game is.
April 3, 2015
In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.
March 11, 2015
The magazine’s resident legal wiz dusts off his crystal ball and offers his regulatory forecast for the coming year.
January 20, 2015
Automotive Compliance Consultants warned dealers this week to review their arbitration clauses in their finance contracts. The firm says such language is coming under scrutiny from courts and regulators.
August 5, 2014
The magazine’s legal insider offers her predictions for 2014. None of them should be surprising, but the industry is in for a ride if her forecast is realized.
January 21, 2014
On Wednesday, the CFPB released preliminary research on the use of arbitration clauses in connection with consumer financial products and services. While auto was excluded from the review, the report’s findings make similar provisions used in auto transactions look ‘consumer-friendly by comparison,’ says legal insider.
December 12, 2013
The magazine’s legal eagle dusts off his crystal ball to make his annual regulatory predictions. This year, he makes four bold predictions that every dealer needs to read.
February 6, 2013
A landmark Supreme Court decision has helped to clarify the enforceability of arbitration agreements, but several key questions remain.
December 1, 2011
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