Minding Your Business

Proskauer’s perspective on developments and trends in commercial litigation.

Rochelle Schultz

Rochelle Schultz

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New CFPB Arbitration Rule Already Under Attack

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued a new rule that would make it easier for consumers to bring class action lawsuits against financial institutions. The new rule bans financial institutions from using mandatory arbitration clauses in consumer contracts to prevent and avoid class action lawsuits. If the new rule goes … Continue Reading
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