Administrative/Regulatory
May 17, 2016
Greener pastures ahead for class action bar
On May 5, the federal Consumer Financial Protection Bureau proposed rules that will, if adopted, provide a decisive blow to consumer arbitration provisions in nearly all contracts for consumer financial products and services. By Richard Gottlieb and Donna Wilson
California is already fertile ground for the class action bar, but the land is about to become even greener.
On May 5, the federal Consumer Financial Protection Bureau (CFPB) proposed rules that will, if adopted in their present form, provide a decisive blow to consumer arbitration provisions in nearly all contracts for consumer financial products and services. The reason is simple: Arbitration is inten...
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