In a decision issued on January 20, 2016, the U.S. Supreme Court pushed back against efforts by defendants to buy off the named plaintiff in order to avoid class action litigation. In Campbell-Ewald vs. Gomez, the Court ruled that a complete offer of … [Read more...]
Consumer Financial Protection Bureau Takes Stand Against Arbitration Agreements That Ban Class Actions
After unprecedented levels of fraud by banks put the U.S. into the Great Recession in 2008, Congress created the Consumer Financial Protection Bureau to rein the abuse practices of consumer financial companies. This includes banks, credit unions, … [Read more...]
The Gross Inequities in Arbitration Clauses That Control Virtually All Our Consumer Agreements
If you own a cell phone, use a credit card, or subscribe to cable or satellite TV, odds are very high that your contract with those companies contains an arbitration clause. Your employment contract very well may contain an arbitration clause. Your … [Read more...]
Website Exposes Bad Credit Card Firms
There's nowhere for credit card companies to hide, as the Consumer Financial Protection Bureau launched a website on Tuesday, June 19, 2012 that allows consumers to browse through complaints filed against large financial companies. The website will … [Read more...]
Supreme Court May Impose More Restrictions on Class Actions
It seems that little by little, consumers are losing their rights when battling companies in courts of law as the United States Supreme Court is set to determine if stricter requirements should be imposed on the certification of class actions in … [Read more...]
Sixteen Attorneys General Stand Up Against Mandatory Arbitration
Including California, have asked the federal government to protect consumers from mandatory arbitration clauses in contracts covering financial services. The group co-signed a letter to the U.S. Consumer Financial Protection Bureau (CFPB) last month. … [Read more...]
California’s ‘Right To Know Act’ Brings Consumers More Privacy Protection
A new bill being considered by California lawmakers will bring California consumers additional privacy rights by requiring companies to disclose to consumers the data they've collected and with whom it was shared during the past year, if the consumer … [Read more...]
CFPB Launches Study Into Mandatory Arbitration, Bringing Discussion To Congress
The growing use of mandatory arbitration has become a hot topic among businesses and consumers, which has led the debate all the way to Congress, with billions of dollars potentially at stake. Like many issues brought to Congress, a government agency … [Read more...]
Binding Arbitration is a Bad Deal for Financial Services Consumers
Consumers may have a chance in disputes with financial institutions if the CFPB is able to limit forced arbitration. The financial industry loves forced arbitration and for good reason. When a consumer "agrees" to the bank's required terms of doing … [Read more...]
A Consumer Injustice: Arbitration Agreements Only Protect Big Business
The days of facing your opponent in a court of law to settle disputes are rapidly fading, especially if you're a consumer. For consumers, a barely noticeable clause may be trading your right to a day in court for forced arbitration when disputing a … [Read more...]