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CFPB Moves to Ban Class Action Waivers in Consumer Financial Services Contracts

In a move long anticipated by the industry, the Consumer Financial Protection Bureau (CFPB) on October 7, 2015 proposed to ban class action waivers in consumer financial contracts. Although the proposed ban would not take effect for a few years, it could lead to an increase in consumer class action lawsuits—some of which  have been … Continue Reading

Class of Financial Institution Plaintiffs Certified in Target Data Breach Litigation

On September 15, 2015, U.S. District Judge Paul A. Magnuson certified a class of financial institution plaintiffs in the multi-district litigation pending in the District of Minnesota arising out of the 2013 Target data breach.  The data breach affected approximately 40 million cardholders, and the certification of the financial institution class permits banks to move … Continue Reading
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