, Columnist
So What If You Can't Join a Class Action?
You're not missing much. The Consumer Financial Protection Bureau is wildly exaggerating the harm of banks' arbitration clauses.
Put the gavel down, and nobody gets hurt.
Photographer: Robert Daly/Caiaimage, via Getty ImagesBreathes there a man with heart so dead that he has not wanted to sue his credit card company? Well, apparently there are -- in the Senate of the United States.
Last week, they narrowly voted to overturn a ruling by the Consumer Financial Protection Bureau which would have banned banks from using forced arbitration clauses to prevent consumers from banding together in class actions and suing the heck out of their financial institution.