This month marks the one-year anniversary of the Consumer Financial Protection Bureau’s release of a controversial report. That report will likely soon help usher in a new era of more class actions against banks and other consumer finance companies.
In the near future, the federal agency is expected to issue a new rule halting the consumer finance companies’ use of mandatory arbitration clauses that bar class-action litigation. The CFPB’s new rule will be based on its findings in that March 2015 released report.
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