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The Consumer Financial Protection Bureau (CFPB) finally moved forward today to ban class action waivers in mandatory arbitration clauses found in certain consumer financial services contracts.

In October 2015, the CFPB published its multiyear study on arbitration provisions in consumer financial contracts and an outline of the proposal under consideration. It then convened a

On July 31, 2015 the Consumer Financial Protection Bureau rule that enables the CFPB to supervise the biggest nonbank automobile finance companies will take effect, subjecting the auto finance industry to new and unprecedented regulatory scrutiny. Finance companies across the country are bracing for their first CFPB examinations. Given the recent CFPB settlement with one