CFPB blocks arbitration clauses for consumer finance products

Sasha Padbidri

July 10, 2017 09:15 PM

Cordray — Consumer Financial Protection Bureau Director Richard Cordray listens while testifying on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, before the Senate Banking Committee hearing on "Holding the CFPB Accountable: Review of First Semi-annual Report. (AP Photo/J. Scott Applewhite) | J. Scott Applewhite/AP

The Consumer Financial Protection Bureau (CFPB) handed down a rule on Monday eliminating arbitration clauses that bar consumers from bringing class action lawsuits, a move that could spell trouble for some ABS asset classes.

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Securitization ABS United States Americas North America

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Sasha Padbidri