The Consumer Financial Protection Bureau (CFPB) has published the final Arbitration Agreements Rule, which impacts the way claims involving consumer financial products and services are handled in the future, including a prohibition against providers of such products and services from relying on a predispute arbitration agreement that includes an arbitration clause barring a consumer from filing or participating in a class action. BakerHostetler’s Financial Services Team just released an Executive Alert and blog post regarding this development. The blog post can be found here.
