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What the Supreme Court Giveth, the CFPB Taketh Away
Lewis Wiener, Kymberly Kochis and Frank Nolan of Sutherland Asbill & Brennan write: On May 5, 2016, the CFPB released its proposed regulation on restricting the use of class action waivers and arbitration provisions in consumer contracts. The proposal, if effectuated, would essentially overturn years of U.S. Supreme Court precedent.