Proposal Would End the Free Pass Companies Use Against Group Lawsuits
WASHINGTON, D.C. —(ENEWSPF)–October 7, 2015. Today the Consumer Financial Protection Bureau (CFPB) announced it is considering proposing rules that would ban consumer financial companies from using “free pass” arbitration clauses to block consumers from suing in groups to obtain relief. Buried in many contracts for consumer financial products like credit cards and bank accounts, most arbitration clauses deny consumers the right to participate in…
