Legal

CFPB Proposal Would Undermine Benefits of Arbitration

The Consumer Financial Protection Bureau today released a proposal that would prohibit customers from waiving their ability to participate in class action suits and limit drastically the use of mandatory arbitration agreements for financial products and services.

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Final Fiduciary Rule Includes ABA-Advocated Revisions

The Labor Department’s final rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act and Internal Revenue Code was released today and includes a number of revisions from its initial proposal, several of which were advocated by ABA.

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Supreme Court Lets Decision Stand in Missouri ECOA Case

With a 4-4 split vote following the death of Justice Antonin Scalia, the U.S. Supreme Court let stand an Eighth Circuit Court of Appeals decision finding that the Equal Credit Opportunity Act’s protections apply only to loan applicants, not to those who guarantee the loans.

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Of Ubers, Tech Users and Elder Abusers

As technology evolves, state-level stalwarts such as elder financial abuse and foreclosure are now sharing the legislative spotlight with novel issues generated from the success of Airbnb, Uber and other “sharing economy” firms.

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