CFPB Final Rule Prohibiting Class Action Waivers in Arbitration Clauses
On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued a final rule prohibiting class action waivers in predispute arbitration clauses contained in covered consumer financial services agreements. The four primary provisions of the final rule are as follows: Under the final rule, a “predispute arbitration agreement” is defined as: “an agreement between a […]
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