mandatory arbitration clauses News

Equifax, Wells Fargo May Still Face Class Actions Despite Wall Street Arbitration Win

Not every financial firm will be able to reap the benefit of Wall Street’s victory in dismantling the threat of class-action law suits. The U.S. Senate killed a rule late on Tuesday that allowed consumers to band together to sue …

Finance Industry Sues to End U.S. Rule Curbing Forced Arbitration for Consumers

A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms. The litigation, filed Friday …

Banks Blast Rule Exposing Them to Consumer Class Actions

U.S. banks and credit card companies could be prevented from blocking customers from banding together to sue them under a rule released by the country’s consumer finance agency on Monday. In releasing the rule, which goes into full effect in …

Trump Reverses Obama Stand, Supports Employers Requiring Class Action Waivers

The Trump administration on Friday sided with employers in a Supreme Court case over the rights of workers to bring class action lawsuits against companies, court documents showed. Reversing a position staked out earlier by the Obama administration, which backed …

Mandatory Arbitration Clause Could Thwart Wells Fargo Customers’ Lawsuits

Wells Fargo & Co. customers aiming to sue the bank over bogus accounts opened in their names may be in for an unpleasant surprise: the fine print requires them to take their claims to an arbitrator instead of a court. …

Judge Denies Uber Bid to Enforce Arbitration in Consumer Suit

Uber Technologies Inc. can’t require a Connecticut customer accusing the company of price-fixing to resolve the fight in arbitration, a federal judge ruled in one of several cases challenging the ride-hailing company’s efforts to steer disputes of all kinds away …

U.S. Consumer Rules Would End Mandatory Arbitration Clauses That Limit Class Actions

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 …