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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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We Called It! CFPB Arbitration Field Hearing in Albuquerque, Like Predecessors in Newark and Denver, Used As Vehicle For Release of News by Bureau
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As we predicted in SAA 2016-15, the Consumer Financial Protection Bureau (“CFPB”) used a “field hearing” on arbitration on May 5th in Albuquerque to release news that it will be moving ahead with rulemaking that will ban class action waivers in consumer financial arbitration clauses.

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The Mandatory Consumer Predispute Arbitration Agreement – Reports of its Demise May have been Greatly Exaggerated
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By George H. Friedman*

[The author thanks the Securities Arbitration Commentator for letting him borrow liberally from its Securities Arbitration Alert]

Much has been written in recent years about the likely demise of mandatory predispute arbitration agreements (“PDAAs”) in the consumer financial context.

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Surprise, Surprise! CFPB to Propose Arbitration Regs that Look Very Similar to FINRA’s Arbitration Program (and the Mets are in the Postseason)
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By George H. Friedman*

For most of my fourteen years as FINRA’s Director of Arbitration, I perceived myself to be tilting at windmills trying to make the case that FINRA’s arbitration program was the fairest consumer arbitration program is existence.

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