Showing posts filed under: FTC Beat by George Calhoun

October 25, 2017

Congress Saves Consumer Arbitration

In July 2017, the Bureau of Consumer Financial Protection (“CPFB”) announced a new rule broadly barring arbitration provisions in a wide swath of consumer contracts.  See 12 CFR part 1040.  To go into effect next Spring, the final rule would have prohibited providers of certain consumer financial products and services from using an agreement with… Read More

October 13, 2016

The Blacklisting Rules Are Coming: What Federal Contractors Need to Know

The Federal Acquisition Regulation final rule implementing the “Fair Play and Safe Workplaces” Executive Order 13673 was issued on August 25, 2016, and the rule goes into effect on October 25, 2016. This new regulation presents a significant change – and potential challenge – for major government contractors. President Obama signed Executive Order 13673, often… Read More

May 5, 2016

CFPB Scare Tactics: The New Arbitration Rules

Recently, I wrote about the CFPB’s plans to issue new regulations restricting arbitration clauses in certain consumer contracts.  Today, the agency announced those new rules and CFPB Director Richard Cordray is expected to discuss them at the agency’s field hearing in Albuquerque, New Mexico.  As expected, the new rules eliminate the use of class action… Read More

March 1, 2016

CFPB No-Action Letters Are No Help

In the age of handheld banking apps, private funds transfer systems, and digital currencies, ensuring that new products are fair to consumers and compliant with existing – and sometime archaic – regulations are difficult tasks. The Bureau of Consumer Financial Protection (“CFPB”) recently finalized a new policy for providing “no-action letters” (“NALs”) to companies seeking… Read More