CFPB bans mandatory arbitration clauses in mortgage contracts

Good news for homeowners! Consumer Financial Protection Bureau has issued a rule to implement Dodd-Frank's ban on mandatory arbitration clauses in mortgage contracts.

- Robert E. Brown, Esq.

The Law Offices of Robert E. Brown, PC

CFPB bans mandatory arbitration clauses in mortgage contracts

Mondaq is reporting that the Consumer Financial Protection Bureau has issued a rule to implement Dodd-Frank's ban on mandatory arbitration clauses in mortgage contracts. The rule is available here. The rule implements changes required by Section 1414 of the Dodd-Frank Wall Street Reform Act.

The full article can be found here: mandatory-arbitration-clauses-in-mortgage-contracts