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Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants.
The Appellate Division of the New York Supreme Court just issued the latest significant ruling in the mass arbitration space, a litigation trend that has been gaining notoriety over the last year and a half.
Today the Consumer Financial Protection Bureau (CFPB) issued a report on the challenges faced by Americans in rural communities. The report highlights that many of these communities lack access to physical bank branches, are more likely to seek credit from nonbanks, and are heavily affected by medical bills.
This Coalition letter was sent to Members of the Senate Committee on Banking, Housing, and Urban Affairs on a hearing entitled "Examining Mandatory Arbitration in Financial Service Products.”