The Consumer Financial Protection Bureau (CFPB) today announced that its recent work resulted in $14 million in relief to more than 104,000 harmed consumers from January through June 2017. The Press release read in part: “Today’s report, the 16th edition of Supervisory Highlights, covers CFPB supervision activities from January through June 2017, and shares observations […]

The CFPB is finally issuing its arbitration rule! I have not yet fully read the rule, but the substance seems to say the same as the proposed rule. It doesn’t make arbitration clauses unenforceable, just the use of arbitration clauses to preclude class actions.  Essentially, the press release read in part:   “Today’s rule prohibits […]

This is not a usual “consumer tips” posting, but I wanted to share this good news about someone making a difference for workers and consumers! My colleague at the University of Missouri, Rafael Gely, just received the David Petersen Award from the National Academy of Arbitrators.  Rafael directs our Center for the Study of Dispute […]

I would like to welcome Professor Pamela Foohey as a blogger to this site!  I am so very pleased to have her on board, to share her insights and research.  Professor Foohey teaches at Indiana University Maurer School of Law in Bloomington, Indiana, where her research centers on bankruptcy, commercial law, and consumer law. She […]

The AAA Consumer Arbitration Rules provide that after the consumer pays a $200 filing fee, the defendant must pay a $1500 filing fee, a $500 hearing fee, and $1500 arbitrator compensation per hearing day. The defendant may also have to pay the consumer’s $200 fee if the arbitration agreement provides the company will pay all costs. Some […]

On Jan. 3, the the Consumer Financial Protection Bureau (CFPB) took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB ordered TransUnion and Equifax […]