CFPB Going After Arbitration in Contracts

This is great! Rule on Arbitration Would Restore Right to Sue Banks

The nation’s consumer watchdog is unveiling a proposed rule on Thursday that would restore customers’ rights to bring class-action lawsuits against financial firms, giving Americans major new protections and delivering a serious blow to Wall Street that could cost the industry billions of dollars.

The proposed rule, which would apply to bank accounts, credit cards and other types of consumer loans, seems almost certain to take effect, since it does not require congressional approval.

OMG we’re in for a shit storm of propaganda from the Chamber of Commerce and their lying ilk. This is why we need real people dedicated to helping the average consumer in positions of power. This is what good government can do.

Unfortunately, we need all the good government we can get to counteract all the bad government we’ve been infected with.

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