CFPB Proposal Prohibits Mandatory Arbitration Clauses

Trades urge the CFPB to exempt CUs from a proposal intended to protect consumers' right to sue financial institutions.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The CFPB issued proposed rules Thursday that would prohibit mandatory arbitration clauses in consumer financial products.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
Exclusive discounts on ALM and CU Times events.
Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account? Sign In Now

David Baumann

Dig Deeper

Regulatory & Compliance

Recommended Stories

CUs Give Nearly $60,000 to Organizations Doing Good in Communities

Natasha Chilingerian | January 15, 2021

Plus, a Louisiana credit union pays for $2,000 worth of breakfast for customers at a local diner.

ESL Members Get $15M Second Helping of Special Dividends

Jim DuPlessis | January 15, 2021

The amount is on top of $20 million that the Rochester, N.Y., credit union paid in June as an early payment.

Inclusiv Launches $20 Million Secondary Capital Fund

Peter Strozniak | January 14, 2021

New investments expand economic relief and financial inclusion for credit unions that serve communities of color.

Resource Center

A robust and updated financial calculator is a key tool to help capture accurate member data and grow your CU’s bottom line.

White Paper

Sponsored by Signal Intent

3 Ways Website Calculators Can Drive Digital Transformation in 2021

A robust and updated financial calculator is a key tool to help capture accurate member data and grow your CU’s bottom line.

Browse More Resources ›

Discover how two credit unions are implementing a proven operational approach in advanced AI-driven systems to save time and money.

On-Demand Webinar

Sponsored by Finastra

Next Gen Banking Automation for Credit Unions

Discover how two credit unions are implementing a proven operational approach in advanced AI-driven systems to save time and money.

Browse More Resources ›

Make up for lost income by approving auto loans for lower-credit borrowers without increasing your risk.

White Paper

Sponsored by Open Lending

The Benefits of Auto Lending Tech

Make up for lost income by approving auto loans for lower-credit borrowers without increasing your risk.

Browse More Resources ›

Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
Exclusive discounts on ALM and Credit Union Times events.
Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.