The Traderszone Network

Published in TZ Latest News 17 July, 2017 by The TZ Newswire Staff

CFPB Arbitration Rule Dominates Regulatory News

No surprise, perhaps, but the biggest news to emanate out of the payments realm in terms of regulations and legal impact, came from the Consumer Financial Protection Bureau (CFPB).

The Bureau, of course, handed down a rule last week that stated that firms can no longer force the consumers they do business with from joining class action lawsuits. The rule is aimed at banks and credit card companies, as their agreements typically mandate arbitration in lieu of such suits.

read more