The CFPB rule would have had an enormous impact on returning to consumers remedies they had lost through the widespread use of arbitration clauses with class action bans. Nevertheless, consumers have a number of ways to defeat an arbitration requirement, as set out below.
June 23, 2022 Settlement may restore faith in borrower defense process, though barriers to relief remain WASHINGTON – Today advocates from the National Consumer Law Center applauded the proposed settlement agreement in the class action lawsuit Sweet v. Cardona, which challenged the U.S. Department of Education’s failure to provide timely decisions on borrower defense applications…
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