Court cases

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.

Most of the country has never heard of Madden v. Midland Funding, but the impact of the misguided court decision on consumers is far-reaching.

A long-term discussion about rethinking rules of the credit market is worth having, but for right now Congress should restore clarity by correcting the Second Circuit’s mistake.