Articles by Lisa Lambert

Trump Signs Order Curbing Consumer Class Actions Against Banks

President Donald Trump signed a Congressional resolution on Wednesday that lets banks block customers from filing class action lawsuits, partly delivering on his election campaign promise to lighten U.S. financial regulation. The White House confirmed Trump signed the resolution, which …

Congress Kills Obama Ban on Forced Arbitration in Battle Against Class Actions

Banks, credit card issuers and other financial companies will be able to block customers from banding together to sue over disputes, after the U.S. Senate on Tuesday narrowly killed a rule banning the firms from using “forced arbitration” clauses. Republican …

Some Banks Already Follow Consumer Bureau’s Softer Arbitration Policy

Senator Elizabeth Warren, who opposes efforts to dismantle a new rule allowing customers to sue financial companies in class actions, released letters on Tuesday from U.S. bank CEOs in which they declined to defend lobbying against the measure and several …

Senators Have Questions for Wells Fargo on Auto Insurance Scandal

A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, …

MetLife ‘Too Big to Fail’ Case Remains on Hold Awaiting Trump Weigh-In

Any legal decision on whether the largest U.S. life insurer MetLife Inc. should be labeled “too big to fail” will probably come after the Trump administration defines its stance on the designation. A U.S. appeals court said on Wednesday that …

Judicial Records on MetLife ‘Too Big to Fail’ Ruling May Be Opened to Public

The public may soon be able to delve into how a U.S. District Court judge came to rule that MetLife Inc is not “too big to fail,” after three appeals judges on Tuesday decided many records in the case should …

Senators Question If Trump Adviser, AIG Investor Icahn Plays Role in ‘Too Big to Fail’

Two prominent U.S. Democratic senators are raising questions about President Donald Trump’s special adviser, Carl Icahn, asking in a letter on Thursday if the activist investor is attempting to persuade the government to lift its “too big to fail” tag …

Republican-Led House Votes to Block Rule Allowing Consumer Class Actions

The U.S. House of Representatives on Tuesday voted overwhelmingly to erase a new rule that lets bank and credit-card customers band together in lawsuits, as the agency that drafted the measure, the Consumer Financial Protection Bureau, moves closer to the …

MetLife’s ‘Too Big to Fail’ Lawsuit on Agenda for U.S. Regulators

Heads of the U.S. financial regulatory agencies will meet behind closed doors this Friday to discuss MetLife Inc.’s lawsuit against them, according to a notice from Treasury, as the Trump administration wrestles with reforms put in place in response to …

Ban on Consumer Mandatory Arbitration Clauses Faces Challenges

A U.S. rule years in the making that was intended to restore consumers’ ability to band together to sue financial companies could unravel in just a few months as the heads of two federal agencies clash over it and critics …