//CFPB Final Arbitration Rule

CFPB Final Arbitration Rule

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The Consumer Financial Protection Bureau’s arbitration rule aimed to restore our right to band together for our day in court for bank accounts, credit cards, prepaid cards, payday loans, federal student loans, and other financial products. When financial companies commit widespread wrongdoing, consumers would have the right to join together before a judge who can hold the bad actor fully accountable instead of being forced to bring an individual case before a private arbitrator. NCLC supported the CFPB arbitration rule but it was ultimately repealed by the Senate under the Congressional Review Act. For more information and materials visit Fair Arbitration Now.

Tell Congress to pass the Forced Arbitration Injustice Repeal (FAIR) Act and put consumers ahead of Wall Street companies and predatory lenders.

 

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2019-04-09T08:28:21-05:00