New rule requires U.S. banks to allow consumer class actions

[McFurd]

Investing.com - 7/10/2017 - Lisa Lambert - WASHINGTON (Reuters) - U.S. banks and credit card companies could be prevented from blocking customers from banding together to sue them under a rule released by the country's consumer finance agency on Monday. In releasing the rule, which goes into full effect in eight months, the Consumer Financial Protection Bureau fired the first shot in a likely brutal political battle between Republicans and Democrats over regulators' reach into banks' workings and customer rights. Read more @ https://www.investing.com/news/politics ... ces-503960