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

Men’s soccer: Badgers fall to Wolverines in hard-fought game

first_imgIn the battle between two Big Ten powerhouses late Friday night, the University of Wisconsin men’s soccer fell in a hard-fought struggle against their rival, the Michigan Wolverines, 2-1. Coming into the game after with a disappointing start to the season, the Badgers were hopeful to continue their recent success in Big Ten play, however, the mMaize and Blue had other plans. Playing their fifth consecutive home game, the Wolverines were determined to extend their early domination having started the season 3-0-1.Men’s soccer: Wisconsin opens Big Ten tournament play against Michigan this weekendThe University of Wisconsin men’s soccer team wants to do what most Division I athletic programs want to do every time Read…No surprise to anyone, as both these teams have been finding the net plenty early on this season, the scoring opened early as Michigan forward Ivo Cerda flew through the air like a salmon, using his head to guide the ball into the back of the net after only six minutes. After about 30 minutes of back-and-forth play, Michigan began to bombard the Badger defense relentlessly. Giving their all not to break, the Badgers reluctantly conceded their second goal of the day, as midfield Marc Ybarra put his name on the scoresheet after an easy tap in off of a corner kick. Going into half down 2-0, Badgers coach John Trask was determined to have his troops prepared and ready for an improved second half. At the beginning of the second half, Wisconsin was in need of a quick answer as they had dug themselves into a 2-0 hole. After some rough play from both sides, an unlikely source finally put the Badgers on the board in the 85th minute. Badger goalkeeper Phillipp Schilling stepped up to take a free kick from an absurd 65 yards out and netted it. While it would go on to be the Badgers’ lone goal, it held sentimental value, as the goal was Schilling’s first goal as a member of the Wisconsin team. While the game did not provide a favorable outcome for the Red and White, coach Trask was not entirely discouraged. Leading the game in shots 11-8, there were many positive points to build on moving forward. The Badgers now find themselves with a record of 1-1-2, and in desperate need of a win to turn their season around. The Badgers are scheduled to take on another Big Ten foe in the Northwestern Wildcats this Wednesday.last_img read more