All arbitration articles
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Blog
SEC tries to placate mandatory arbitration fears
In response to House Democrats, SEC Chairman Jay Clayton is once again assuring the public there are no immediate plans to allow companies to demand dispute arbitration in IPO filings and corporate governance documents.
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SEC keeps options open for mandatory shareholder arbitration
SEC Chairman Jay Clayton has floated the idea of mandatory shareholder arbitration, raising issues about agency enforcement and investor protection.
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Year in review: 2017
Compliance Week looks back at the last 12 months and offers a glimpse at some of the biggest news stories in compliance, governance, risk, and ethics.
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Blog
CFPB’s Cordray pleads with President Trump to spare arbitration ban
With President Trump likely to sign away the CFPB’s ban on mandatory arbitration clauses, Director Richard Cordray has lobbed the political equivalent of a Hail Mary pass: a direct, personal letter seeking reconsideration.
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Senate kills CFPB mandatory arbitration ban
With Vice President Mike Pence breaking a 50-50 vote tie, the Senate has quashed the CFPB’s controversial ban on the mandatory arbitration clauses widely used by financial services firms.
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Acting comptroller thwarts CFPB, even as Dems question his authority
As the Office of the Comptroller of the Currency increasingly injects itself as a regulatory buffer between banks, financial services firms and the CFPB, Senate Democrats are questioning the legality and authority of Acting Comptroller Keith Noreika.
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News headlines complicate looming arbitration vote
As Republican critics of the CFPB’s arbitration rule prepare for a Senate vote to repeal it, news headlines are giving their progressive opposition plenty of ammunition and leverage..
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Democrats leverage Equifax breach to defend CFPB's arbitration rule
A massive data breach at the credit rating service Equifax has gifted Democrats and other supporters of the CFPB's arbitration rule with fresh ammo.
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Sen. Warren quizzes bank CEOs on arbitration rule
Senator Elizabeth Warren (D-Mass.) is targeting top bank executives, demanding that they go public with their views of the CFPB's recent rule banning forced arbitration.
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Blog
House votes to nix CFPB’s arbitration ban
With a party-line vote, Republicans in the House of Representatives have rallied with a vote to repeal the CFPB's recent ban on mandatory arbitration agreements. The repeal effort now moves onto the Senate for a vote.
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State bankers unite against arbitration rule
State banking associations have joined the fight against the CFPB’s new rule that curtails the use of mandated arbitration. They are turning to Senators to kill the rule with the Congressional Review Act.
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CFPB courts even more controversy with arbitration rule
A new rule finalized by the CFPB bans arbitration demands in financial services agreements. A boon to class-action attorneys, questions abound as to what it all means for firms.
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GOP turns to Congressional Review Act for killing arbitration rule
Within hours of the CFPB issuing a new rule banning the mandatory use of arbitration agreements, Republicans threatened to rescind it using the Congressional Review Act.
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Blog
CFPB unleashes new arbitration rule
The CFPB’s efforts to ban mandatory arbitration clauses are now realized with a new rule, reopening a path to class-action lawsuits for aggrieved consumers of financial services.
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Debate over CFPB’s arbitration rule intensifies in comment letters
The CFPB has received some 13,000 comments in a fierce debate over its proposed rule to limit the use of binding arbitration for resolving disputes associated with financial products. Joe Mont explores.
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Seeking to squash mandatory arbitration, CFPB proposal draws praise and venom
The Consumer Financial Protection Bureau is moving ahead with a proposed rule that will prohibit mandatory arbitration clauses. While proponents agree with the Bureau’s assertion that class-action lawsuits provide a more effective means for consumers challenging problematic practices, pro-business groups see the rule as a deathblow for financial services arbitration ...