- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The CFPB’s efforts to ban mandatory arbitration clauses are now realized with a new rule, reopening a path to class-action lawsuits for aggrieved consumers of financial services.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
A new rule finalized by the CFPB bans arbitration demands in financial services agreements. A boon to class-action attorneys, questions abound as to what it all means for firms.
Data brokers have been getting away with selling Americans’ personal and financial data without adequate protections, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
