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Arbitration Trump Administration Consumer Financial Protection Bureau (CFPB)

Arbitration is a widely-used method for settling disputes between parties. During arbitration, parties submit their dispute to an impartial third person or party, usually chosen by the parties. Typically, parties... more +
Arbitration is a widely-used method for settling disputes between parties. During arbitration, parties submit their dispute to an impartial third person or party, usually chosen by the parties. Typically, parties to arbitration agree in advance to be bound by the arbitrator's decision. Arbitration is an alternative to litigation, but it shares many of the familiar features of litigation. Namely, parties to arbitration hold hearings before neutral decision-makers, present evidence and argue the merits of their position. Parties often choose arbitration due to its perceived advantages over litigation. Those perceived advantages include greater efficiency and flexibility, and lower costs. less -
Jenner & Block

Jenner & Block Japan Newsletter - July 2025

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Welcome to the July 2025 edition of the Jenner & Block Japan Newsletter, a publication containing updates about legal developments in the United States that may be noteworthy to our clients and other leaders in the Japanese...more

Miles & Stockbridge P.C.

CFPB Class Action Waiver Rule Invalidated Amidst Ongoing Diminution of CFPB Power

In October 2017, the United States Senate voted to invalidate a rule promulgated by the Consumer Financial Protection Bureau (“CFPB”), which would have prohibited financial institutions from using arbitration agreements in...more

Stinson LLP

Will the New Year Bring a New CFPB? Planning in the Wake of Uncertainty

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The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in July 2010 in the wake of a financial crisis, as an independent agency tasked with...more

MoFo Reenforcement

Financial Services Report – Winter 2017

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EDITOR’S NOTE - The holidays came early for the financial services industry. First, the Senate voted to repeal the CFPB’s rule banning class waivers in arbitration agreements in consumer financial contracts. Then,...more

Polsinelli

Trump Blocks CFPB Arbitration Rule, but the Story’s Not Over Yet

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President Donald Trump effectively stopped the Consumer Financial Protection Bureau’s (CFPB) so-called “arbitration rule,” signing legislation repealing the rule on Nov. 1. The rule would have prohibited providers of certain...more

Ballard Spahr LLP

CFPB to Remove Arbitration Rule from CFR

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The CFPB is scheduled to publish a notice in tomorrow’s Federal Register removing the agency’s final arbitration rule from the Code of Federal Regulations (CFR). ...more

Goodwin

CFPB’s Arbitration Rule Dies at Hands of Senate and President

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Three months after the U.S. House of Representatives voted on July 25, 2017 to block the Consumer Financial Protection Bureau’s (CFPB) Arbitration Rule, the U.S. Senate followed suit. On October 24, 2017, the Senate passed a...more

Ballard Spahr LLP

CFPB Finally Acknowledges Arbitration Rule “Has No Force or Effect”

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Two weeks after President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule, the CFPB has formally acknowledged Congress’ override of the rule under the...more

Ballard Spahr LLP

When will the CFPB formally acknowledge that Congress has repealed its arbitration rule?

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Yesterday marks one week since President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule....more

Seyfarth Shaw LLP

Another One Bites the Dust - the President Kills the CFPB Arbitration Rule

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Seyfarth Synopsis: Pursuant to the the Congressional Review Act, President Trump officially repealed the CFPB Arbitration Rule. As expected, President Trump signed the resolution to repeal the arbitration rule proposed...more

Carlton Fields

No Treat For CFPB: Trump, Congress Override Rule On Class Action Waivers

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On November 1, President Trump signed legislation disapproving a CFPB rule designed to prohibit class action waivers in certain consumer financial services contracts. In so doing, Trump rejected a last minute personal appeal...more

Bilzin Sumberg

CFPB Arbitration Rule Eliminated by Congress and President

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On November 1, President Trump formally did away with a Consumer Financial Protection Bureau (CFPB) arbitration rule that would have given consumers the opportunity to file class actions against banks and other companies in...more

Ballard Spahr LLP

Finance industry groups file dismissal notice in lawsuit seeking to overturn CFPB arbitration rule

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The plaintiffs in the lawsuit filed by industry groups in a Texas federal district court against the CFPB to overturn the final arbitration rule have filed a Notice of Voluntary Dismissal....more

Kilpatrick

Update: President Trump Sticks a Knife in the CFPB’s Arbitration Rule

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Key Takeaway: For now, pre-dispute arbitration clauses with class action waivers are safe. On November 1, President Trump abrogated a Consumer Financial Protection Bureau (CFPB) rule that would have given consumers the...more

Ballard Spahr LLP

President Trump signs CFPB arbitration rule override

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Yesterday, President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule. The House and Senate actions were taken pursuant to the Congressional Review Act...more

Spilman Thomas & Battle, PLLC

Breaking Insights: U.S. Senate Disapproves Consumer Financial Protection Bureau's Rule

U.S. Senate disapproves Consumer Financial Protection Bureau's rule prohibiting arbitration clauses in consumer contracts with Vice President Pence casting the tie-breaking vote....more

Ballard Spahr LLP

Cordray’s Letter to President Trump Distorts Impact of Arbitration Rule

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CFPB Director Richard Cordray yesterday sent a letter to President Trump asking him to uphold the Bureau’s arbitration rule even though the Senate recently joined the House in authorizing a repeal of the rule under the...more

Parker Poe Adams & Bernstein LLP

After Congress Kills CFPB Arbitration Rule, What’s Next?

Congress has passed – and the Trump administration has signaled that the president will sign – a bill to roll back the Consumer Financial Protection Bureau’s sweeping arbitration rule, which the White House has called...more

Bradley Arant Boult Cummings LLP

CFPB’s Effort to Axe Class Waivers Gets Axed by the Senate

By the hair of its chinny chin chin, the Senate voted on Tuesday to nullify the CFPB’s previously announced final rule that would have prohibited banks, credit card companies, and other financial service entities from...more

Hinshaw & Culbertson LLP

U.S. Senate Joins The House To Eliminate The CFPB’s Final Rule Against Class Action Waivers in Arbitration Clauses; The President...

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With Vice President Pence casting a dramatic tie-breaking vote just after 10 p.m. E.D.T. on October 24th, the U.S. Senate joined the U.S. House of Representatives to eliminate, based on their authority under the Congressional...more

Troutman Pepper Locke

Senate Strikes Down CFPB Arbitration Rule

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The short-lived rule will likely be remembered as part of the Trump Administration’s dismantling of the Obama Administration’s legacy, and as continuing the trend of courts strictly enforcing agreements to arbitrate as...more

Ballard Spahr LLP

CFPB Issues Arbitration Rule Small Entity Compliance Guide

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The CFPB has issued a small entity compliance guide for its arbitration rule.  The rule became effective on September 18, and compliance with the rule is required with regard to pre-dispute arbitration agreements entered into...more

Vedder Price

Another Day, Another Regulation: A Summary and Description of the CFPB’s Arbitration Rule

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On July 10, 2017, the Consumer Financial Protection Bureau (the “CFPB”) finalized its proposed arbitration rule that will prohibit providers of certain consumer financial products and services from requiring a consumer to...more

Goodwin

Financial Services Weekly News - July 2017

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Editor's Note - Fireworks After the July 4th Holiday. On July 10, the Consumer Financial Protection Bureau (CFPB) issued the highly anticipated final Arbitration Rule, which prohibits the use of mandatory arbitration...more

Holland & Knight LLP

Controversial CFPB Rule Exposes Financial Services Companies to Greater Class Action Risk

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Under a controversial new final rule issued by the Consumer Financial Protection Bureau (CFPB) on July 10, 2017, banks and credit card companies are prohibited from forcing consumers into arbitration to avoid class action...more

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