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CFPBRulemakingCFPB-2016-0020

Arbitration Agreements

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Cooperative Credit Union Association filings
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Cooperative Credit Union Association filed 1 comment on this docket between Aug 24, 2016 and Aug 24, 2016. 36 other organizations filed here. The comment window closed 3627d ago.

What Cooperative Credit Union Association filed (1)

Aug 24, 2016· Comment Submitted by Katherine Butler, Cooperative Credit Union Association, Inc.· CFPB-2016-0020-3982

Filed on regulations.gov — full text not in the inline record.

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Abstract

Pursuant to section 1028(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111- 203), the Bureau of Consumer Financial Protection (Bureau) is proposing to establish 12 CFR part 10 40, which would contain regulations governing two aspects of consumer finance dispute resolution. First, the proposed rule would prohibit covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing or participating in a class action with respect to the covered consumer financial product or service. Second, the proposal would require a covered provider that is involved in an arbitration pursuant to a pre-dispute arbitration agreement to submit specified arbitral records to the Bureau. The Bureau proposes that the rule would apply to certain consumer financial products and services. The Bureau is also proposing to adopt official interpretations to the proposed regulation.

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Co-filers (36)

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