TBA Law Blog

Posted by: Katharine Heriges on Jul 10, 2017
The Consumer Financial Protection Bureau adopted a rule today that would see banks and credit card companies lose the power to force customers into arbitration and block them from banding together to file a class-action suit. The New York Times reports that the change could cost financial firms billions of dollars. In the past, consumer who were prevented from banding together for a class-action suit often abandoned their claims.