How Equifax Could Change Arbitration

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post How Equifax Could Change Arbitration in Daily Dose, Featured, News About Author: Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago The recent Equifax breach of data of over 143 million American consumers via efforts by hackers could have breathed new life into the Consumer Financial Protection Bureau’s (CFPB) recent anti-arbitration clause, according to a report by the Los Angeles Times.The rule, which has been under the spotlight since its passing in early July, bars mandatory arbitration to allow consumers to proceed directly with class action law suits. Congress, especially Jeb Hensarling, who has long been at odds with CFPB Director Richard Cordray, has threatened to invoke the Congressional Review Act in order to overturn it. Many didn’t expect the ruling to go further.However, Equifax may have given the rule new legs to stand on, given the way things have played out in recent days. First, according to the LA Times, after the news broke of the data breach, the company offered a year of free credit monitoring with the stipulation class action suits were forbidden.Once the news broke that this was the case, Equifax amended their statement, saying enrollment in the free credit monitoring program ““does not waive any rights to take legal action.” They also said that enrolling in the free credit monitoring program would not automatically sign consumers up for the paid program.Keith Noreika, the acting Comptroller of the Currency, had asked Cordray to delay the implementation of the ruling so the OCC could assess how it would affect the banking industry. Cordray was not receptive to the request.It remains unclear as to how Equifax’s current slip-up will affect the success of the CFPB’s arbitration rule. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Subscribe Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Tagged with: data breach HOUSING mortgage Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 12, 2017 1,266 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Previous: 3 Factors Real Estate Professionals are Overlooking Next: Bringing Fintech to the Forefront Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago data breach HOUSING mortgage 2017-09-12 Joey Pizzolato Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / How Equifax Could Change Arbitrationlast_img read more

ORVC Weekly Report  (May 13-18)

ORVC Weekly Report  (May 13-18)ORVC Report(May 13-18)2019Congratulations to Southwestern, Milan and Rising Sun on sharing the 2019 ORVC Baseball Championship!Congratulations to Rising Sun for capturing the 2019 ORVC Softball Championship!Congratulations to Southwestern for capturing the 2019 ORVC Boys Golf Championship!Congratulations to Southwestern on capturing the 2019 ORVC Boys Track and Field Championship!Congratulations to Switzerland County on capturing the 2019 ORVC Girls Track and Field Championship!Congratulations to South Ripley on their 2018-2019 ORVC Girls All-Sports Championship!!Congratulations to Southwestern on their 2018-2019 ORVC Boys All-Sports Championship!!Congratulations to Southwestern on their 2018-2019 ORVC All-Sports Championship!!Courtesy of ORVC Recorder Travis Calvert. read more