Financial Companies Can No Longer Block Consumers From Joining Together to Sue Over Wrongdoing
WASHINGTON, D.C. —(ENEWSPF)–July 10, 2017. The Consumer Financial Protection Bureau (CFPB) today announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration clauses in their contracts that prevent consumers from joining together to sue their bank or financial company…
