Public Comment Period on Proposed U.S. Agency Rules to Stop Corporate “Contract Gotchas” Begins

Public Comment Period on Proposed U.S. Agency Rules to Stop Corporate ‘Contract Gotchas’ Begins Today

In a move intended to level the playing field between the American public and corporations with regard to contract disputes on financial products, the U.S. Consumer Financial Protection Bureau (CFPB) proposed new rules this month that would limit corporations’ ability to force citizens away from the court system and into mandatory arbitration. Proposed new rules by U.S. agencies like the CFPB trigger a statutory 90-day public comment period, and for these new rules that period began on May 24, 2016. [Read more…]