Consumer Financial Protection Bureau News Flash! May 6, 2016

Consumer Financial Protection Bureau’s Newly Proposed Regulations Would Pave the Way for More Consumer Class Action Lawsuits:  Rule Would Mandate that all Mandatory Arbitration Provisions Carve Out the Consumer’s Right to Participate in a Class Action Lawsuit in Consumer Financial Contracts with Most Financial Institutions May 6, 2016 By: Elayna T. Zammarelli The Consumer Financial

Proposed CFPB Rule Changes

Proposed CFPB Rule Changes: Clarifications, Additional Requirements, and where Small Loan Servicers Fit The Consumer Finance Protection Bureau (“the Bureau”) has proposed new regulations to clarify a number of issues that the Bureau felt remain unresolved under existing rules.  The new rules are voluminous and address loss mitigation, small servicer definitions, and service transfer deadlines.  You