Financial Services Spotlight

May 2016 Second Half Developments

Posted by Roy Andersen on May 31, 2016 12:00:00 PM

Overview

The CFPB has issued a proposed rule that would restrict the use of mandatory arbitration in consumer finance contracts.   Arbitration is generally more expensive for consumers and eliminates the chance for class actions.  The proposed rule would cover a broad range of financial products.  The CFTC has issued its final rule on cross-border application of its margin rules on uncleared swaps. One Commissioner described the new rule as “muddled methodology” as well as impractical and unnecessary and harmful to US businesses. 

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Topics: Margin Requirements, CFPB, Iraq, Burma, Arbitration Agreements

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About the Spotlight


The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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