Today, the Consumer Financial Protection Bureau’s proposed rule to limit forced arbitration was published in the Federal Register. Although the Bureau first released its proposal two weeks ago, the 90-day countdown for the public to submit feedback starts today and closes August 22....
Blog
May 9, 2016 - 3:19pm
| Filed under: Forced Arbitration
| Tagged with: CFPB
Page updated July 10, 2017
On July 10, the Consumer Financial Protection Bureau (CFPB or Bureau) released its final rule to restrict the use of forced arbitration clauses in consumer financial contracts that prohibit consumers' participation in class action suits....
May 9, 2016 - 3:07pm
| Filed under: Forced Arbitration
Financial institutions are so peeved with the real prospect of limiting forced arbitration in their fine-print contracts with customers.
The industry had instituted a clever ploy, created by its corporate lawyers, to insert requirements in companies' standard terms and...
March 25, 2016 - 12:09pm
| Filed under: Other Areas of Interest
| Tagged with: taxes
As you all know, NACA has been working on finding a solution to the problem of consumer clients being taxed for their attorney’s fees. After much analysis and input from all of you, we decided that our best course of action was to develop a retainer agreement that would protect...
December 21, 2015 - 12:42pm
| Filed under: Forced Arbitration
In 2015, Banks Banded Together in Class Actions While Attempting to Bar Customers From Doing The Same
Today, Congress passed a $1.8 trillion spending package to fund the U.S. government. The legislation is not perfect, but it’s worth noting happily that many proposed anti-...
October 8, 2015 - 2:45pm
| Filed under: Forced Arbitration
Oct. 8 - Yesterday, the Consumer Financial Protection Bureau held a field hearing in Denver to discuss its proposal to...
October 7, 2015 - 3:57pm
| Filed under: Forced Arbitration
A consumer can hardly hope to purchase a financial product or service without being subject to fine-print terms that require them to surrender their right to go to court and privately arbitrate any dispute that might come up between them and lenders or other financial institutions. But the CFPB...
August 5, 2015 - 2:40pm
| Filed under: Telephone Consumer Protection Act
How often do you evaluate your client intake forms to ensure that they are as effective as possible? Guest blogger and NACA member Scott Owens shares his tips on how to best structure your intake forms to ensure that you collect all relevant information and avoid potential problems with TCPA cases.
January 22, 2015 - 3:12pm
| Filed under: Forced Arbitration
The Consumer Financial Protection Bureau has to make an important decision soon about arbitration clauses. Forced arbitration clauses (or “mandatory pre-dispute arbitration clauses” as they are sometimes called) appear in many standard consumer contracts. If you have a Paypal account...
November 25, 2014 - 2:09pm
| Filed under: Forced Arbitration
Black Friday and Cyber Monday are the top two days of the year when companies promise the best deals and promotions. People wait for hours online or brave the bitter cold outside to be the first to retrieve these record-breaking sales. What Amazon, Verizon, Gold’s Gym, Neiman Marcus, JP Morgan Chase, and countless other brand-name companies don’t like to advertise on Black Friday or Cyber Monday is the forced arbitration clause buried in the fine-print of their contracts.