US Politics in Trump era Public date: 14.11.2019 12:15:01

11 Jul 2017

U.S. Agency Moves to Allow Class-Action Lawsuits Against Financial Firms

The nation’s consumer watchdog is adopting a rule on Monday that would pry open the courtroom doors for millions of Americans, restoring their right to bring class-action lawsuits against financial firms. Under the Consumer Financial Protection Bureau rule, banks and credit card companies could no longer force customers into  arbitration and block them from banding together to file a class-action suit. The change would deal a serious blow to Wall Street and could wind up costing financial firms billions of dollars.
The nation’s consumer watchdog is adopting a rule on Monday that would pry open...

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