CFPB’s Richard Cordray wants to replace arbitration with a broken class-action system

Published September 19, 2017 4:01am ET



The timing of the Consumer Financial Protection Bureau’s new rule pushing class action lawsuits at the expense of consumer arbitration agreements is a bit ironic. Although Congress might still block him, CFPB Director Richard Cordray is trying with this rule to force consumers and their complaints into the class action lawsuit system at the very moment Congress is making its most serious attempt in a decade to fix that system.

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