Richard Cordray, director of the Consumer Financial Protection Bureau, says his agency plans to issue rules targeting arbitration agreements between financial firms and consumers. Cordray argues arbitration clauses block class-action lawsuits, stripping consumers of a tool for creating much-needed change in companies’ business practices.
Richard Cordray, director of the Consumer Financial Protection Bureau, says his agency plans to issue rules targeting arbitration agreements between financial firms and consumers. Cordray argues arbitration clauses block class-action lawsuits, stripping consumers of a tool for creating much-needed change in companies’ business practices. Jacquelyn Martin AP
Richard Cordray, director of the Consumer Financial Protection Bureau, says his agency plans to issue rules targeting arbitration agreements between financial firms and consumers. Cordray argues arbitration clauses block class-action lawsuits, stripping consumers of a tool for creating much-needed change in companies’ business practices. Jacquelyn Martin AP

Feds target arbitration clauses in banks’ fine print

March 14, 2016 07:10 PM

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