Arbitration

Wells Fargo CEO Tim Sloan took heat from Senate Democrats, who questioned his fitness for the job, the bank's use of mandatory arbitration clauses and even whether its charter should be revoked.

The groups argue that the CFPB did not properly conduct a cost-benefit analysis of the rule banning mandatory arbitration agreements and that the final product will harm, not help, consumers.

Readers comment on the ripple effects of the Equifax breach, who benefits from the CFPB's final arbitration rule, gender-related issues in financial services, and more.

Acting Comptroller of the Currency Keith Noreika affirmed Thursday that the agency’s fintech charter, if implemented, could be granted to commercial firms like Walmart or Google.

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

Democrats have strived to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering in their campaign to overturn it.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.

In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses.

In a deregulatory environment, a rule that better enables consumers to bring class actions could lead to an explosion of litigation, which will affect product availability and pricing.

The San Francisco bank is embroiled in a high-stakes legal battle over the use of arbitration in disputes involving overdraft fees at the same time that adversaries are portraying the scandal-plagued bank as the poster child for why reform is necessary.

The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank.

Readers weigh in on the end of President Trump's business councils, what the Charlottesville, Va., clashes mean for banks, OSHA's mishandling of Wells Fargo whistleblower claims, community banks' embrace of blockchain, and more.

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules.

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more.

Sen. Elizabeth Warren, D-Mass., sent a letter to 16 big banks asking them if they support a GOP effort to overturn the CFPB arbitration rule.

The financial services industry is at risk of being caught flat-footed if a legislative measure to rescind the Consumer Financial Protection Bureau’s rule regulating arbitration agreements fails to pass.

Staff for House Financial Services Committee Chairman Jeb Hensarling said CFPB Director Richard Cordray is continuing to ignore subpoenas tied to the agency's work on the arbitration rule.