President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put …
Legislation introduced by two Democratic lawmakers on Thursday would allow Wells Fargo & Co. customers to go to court, instead of private arbitration, to resolve claims about accounts opened without authorization, according to a media release. The bill, which faces …
The U.S. Consumer Financial Protection Bureau late on Friday asked the entire U.S. Court of Appeals for the District of Columbia to review an October decision that its structure is unconstitutional. The review will involve all the court’s judges, a …
When Jeb Hensarling, the Republican chair of the U.S. House Financial Services Committee, released legislation this summer to weaken the major financial law known as Dodd-Frank, many said it was a prêt-a-porter plan that his party’s nominee, Donald Trump, could …
The Consumer Financial Protection Bureau survived a constitutional challenge and will remain in business, though a federal appeals court took away power from its director and tossed out a $109 million penalty against a mortgage company. The long-awaited decision was …
A U.S. agency’s plans to ban forced arbitration clauses from financial contracts faces a tough road, with early reaction pointing to a years-long battle that could take a Supreme Court test to settle. Thousands of angry consumers and business representatives …
A U.S. consumer watchdog on Thursday proposed new rules to block credit card companies, banks and other companies from forcing customers to waive their rights to join class action lawsuits and only settle disputes through arbitration. The Consumer Financial Protection …
Banks and credit card companies may not force customers to sign away their legal rights to take part in class action lawsuits, under an early-stage U.S. government proposal that is likely to draw ire from Wall Street. The Consumer Financial …
Two business lobbying groups this week called on the Consumer Financial Protection Board to investigate the medical funding industry after a Reuters investigation revealed that private investors are funding operations for women who have sued makers of surgical implants. The …
Financial companies routinely use mandatory arbitration to block class-action lawsuits, making it difficult for consumers to win big payouts in disputes over credit cards and other products, a U.S. regulator found. When credit card issuers have faced suits seeking class- …
