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CFPB Issues Final Arbitration Rule. Predispute Arbitration Agreements Permitted but Class Action Waivers Banned. Reg Requires Submission of Arbitration Data; Carves Out SRO Arbitration
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The Consumer Financial Protection Bureau (“CFPB”) on July 10 issued its long-anticipated arbitration rule, with few surprises.

Recall that Dodd-Frank section 1028 directs the CFPB to study the use of PDAAs in contracts for consumer financial products and services and later report to Congress,

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CFPB’s Proposed Arbitration Reg May Not Be Long for This World
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The Consumer Financial Protection Bureau’s (“CFPB”) proposed regulation governing predispute arbitration agreements in contracts involving financial products and services – if not the Bureau itself – may face rough sledding in 2017,

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Feds Ban PDAAs in Nursing Home Admission Agreements for Facilities Receiving Federal Funding
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The Centers for Medicare and Medicaid Services has issued final regulations banning nursing homes and long-term care facilities receiving federal funds from using mandatory predispute arbitration agreements.

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Comment Period Closes on CFPB’s Proposed Ban on Class Action Waivers: Where To Begin?
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The comment period for the Consumer Financial Protection Bureau’s (“CFPB”) proposed rule banning class action waivers closed on August 22nd with a massive number of comments.

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Seventh Circuit Holds Unenforceable Class Action Waivers in Employment Agreements, in Conflict with Horton. Eighth Circuit Goes the Other Way – But Not Entirely. SCOTUS Showdown Next?
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In a unanimous decision, the Seventh Circuit holds that an arbitration clause in an employment agreement containing a class action waiver violated the National Labor Relations Act (“NLRA”) and was unenforceable.

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House Financial Services Subcommittee Hearing Scrutinizes CFPB Arbitration Rulemaking
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As we reported in SAA 2016-18, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing May 18th to investigate the CFPB’s arbitration rulemaking process.

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