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Groups File Suit to Oppose Arbitration Ban

Groups File Suit to Oppose Arbitration Ban Featured

The U.S. Chamber of Commerce, American Bankers Association, American Financial Services Association, Consumer Bankers Association, Financial Services Roundtable, and a coalition of associations located throughout Texas filed a legal challenge to the Consumer Financial Protection Bureau’s anti-arbitration rule.
The lawsuit was filed in the Northern District of Texas, Dallas Division.As outlined in the complaint, the legal challenge rests on several grounds, including that the rule violates the requirements of the Dodd-Frank Act because the CFPB study was flawed and based on biased data, and because the rule is harmful to consumers.
Last modified on Tuesday, 03 October 2017 00:57
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