Matthew McDade

Photo of Matthew McDade

Latest Articles

On October 7, 2015, the Consumer Financial Protection Bureau (“CFPB”) proposed a rule that would severely limit the use of arbitration clauses in many consumer financial agreements and likely increase class action litigation in the consumer financial arena. The proposed arbitration ban applies to various consumer accounts, including credit cards, checking accounts, auto title loans, pay day loans, private student loans and installment loans, among others. The proposal requires that any arbitration clauses in these…