A mere nine days after releasing its Final Rule regarding arbitration to the public, the CFPB has published the Final Rule in the Federal Register. This is significant because publication in the Federal Register triggers the countdown to the Final Rule's effective date (60 days after publication) and ultimately its application to new agreements (180 days after the effective date). By our calculations, the Final Rule becomes effective on September 17, 2017, and will apply to new agreements entered into on or after March 16, 2018. Check out our Client Alert, which explains the Final Rule in greater detail.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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