Consumer Protection Bureau To Propose Rule Blocking Forced Arbitration Clauses

  Thursday, May 5th, 2016 Source: The Hill

The Consumer Financial Protection Bureau (CFPB) could finally unveil a proposed rule on Thursday that would keep companies from including clauses in contracts that make it harder for consumers to sue. The agency has scheduled a field hearing to discuss so-called forced arbitration in Albuquerque, N.M., on Thursday but would not say more about any announcements. Advocacy groups believe the rule is imminent. At issue are forced arbitration clauses that are slipped into financial contracts and typically bar consumers from joining class action lawsuits.

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