A new proposal from the U.S. financial watchdog for consumers has been applauded for its ability to help prevent big banks from evading liability for wrongdoing. The Consumer Financial Protection Bureau's proposal, unveiled Thursday, curtails mandatory arbitration clauses in financial products like credit cards, bank accounts, and student loans,
New Proposal Allows Consumers To Join Together To Sue Big Banks
The ‘abusive practice… blocks consumers from challenging predatory practices such as hidden fees, fraud and other illegal behavior.’