Credit unions may find themselves in court more often if theCFPB acts on a newly proposed ban on class-action waivers inarbitration clauses.

Some industry experts said the move could inflate compliancecosts, and eliminate products and services.

The proposed rules, announced Oct. 7, would make it illegal forcontracts for many types of consumer financial products to havearbitration clauses that prevent members from participating inclass-action lawsuits. In the CFPB's cross-hairs are creditunions, banks, card issuers, auto lenders, private student lenders,loan originators, money transfer providers and a host of otherfinancial services firms. The CFPB said it may also add payment processors to the list.