Cards & Loans

New CFPB rules restrict bank arbitration clauses – Direxion Daily Regional Banks Bull 3x Shares ETF (NYSEARCA:DPST)

New rules issued by the Consumer Financial Protection Bureau make it easier for consumers to file a lawsuit against banks by restricting mandatory arbitration language in contracts for credit cards, loans and other financial products.

“Our new rule will restore the ability of groups of people to file or join group lawsuits,” notes the CFPB in a blog post.

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