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Friday, September 29, 2017

Business Groups Sue Today to Block CFPB Arbitration/Class-Action Rule

Business groups today sued the Consumer Finance Protection Bureau (CFPB) in federal court seeking an injunction against the CFPB’s Arbitration Rule, which would nullify arbitration agreement prohibitions of class actions.

Unless blocked, the Arbitration Rule mandates compliance for pre-dispute arbitration agreements entered into on or after March 19, 2018. 

Hat Tip to Mark Kantor and Chris Drahozal.

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