Two weeks ago, the Consumer Financial Protection Bureau unveiled a new rule that would prohibit lenders from including forced arbitration clauses with class action bans in their lending contracts. Today, Public Justice’s Executive Director, Paul Bland, will testify in front of the House’s Financial Institutions and Consumer Credit Subcommittee in support of this rule.
Corporations took a shot at gutting America’s privacy laws, and they missed. The U.S. Supreme has found that consumers can bring claims for statutory damages (where Congress says that if a corporation breaks some law, it must pay a fixed sum, even if the claims are hard to prove), even if the consumer has not lost money or suffered a personal injury. In doing so, they rejected several arguments from corporate America that would have closed the courthouse doors to consumers.