Class Actions Blog

Archive for the ‘Breaking News’ Category

Consumer fury over rip-off clause reported by Forbes to cause Equifax to change policy

Posted on: September 11th, 2017 by Steve Larson

An article in Forbes magazine says that Equifax’s attempt to force consumers into mandatory arbitration after their latest data breach caused such a fury that Equifax had to change its policy.

Click here to read the article.

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Republicans move to invalidate new CFPB rule banning forced arbitration

Posted on: July 21st, 2017 by Steve Larson

On July 20, 2017, Congressional Republicans began a process to attempt to eliminate a Consumer Financial Protection Bureau rule that stops companies from putting class action bans in their arbitration clauses and makes it easier for consumers to sue banks, credit card firms, payday lenders and other service providers in court. Republican members of the Senate Banking Committee and the House Financial Services Committee filed resolutions disapproving of the CFPB’s arbitration rule, putting in motion a process under the Congressional Review Act that could see the bureau’s regulation invalidated.

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Ashley Madison settles data breach class action for $11.2 million

Posted on: July 18th, 2017 by Steve Larson

Ruby Life, Inc., the parent company of online dating website Ashley Madison, reached an $11.2 million deal to resolve a class action in which users alleged that Ashley Madison had failed to use proper care to secure their personal information after a data breach allegedly disclosed information regarding 37 million users. Ashley Madison is known as being an adultery website.

The case is In re: Ashley Madison Customer Data Security Breach Litigation, case number 4:15-md-02669 in the U.S. District Court for the Eastern District of Missouri.

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Article in The Hill explains why the new CFPB banning mandatory arbitration is a good thing

Posted on: July 13th, 2017 by Steve Larson

Paul Bland has written an excellent article in The Hill that reviews the background behind the publication of the new CFPB rule banning mandatory arbitration, and addresses the merits and criticisms of the new rule.

Here is the link.  http://thehill.com/blogs/pundits-blog/finance/341472-who-will-gop-lawmakers-stand-with-the-people-or-crooked-bankers.

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CFPB issues rule banning mandatory arbitration agreements in consumer finance documents

Posted on: July 12th, 2017 by Steve Larson

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced a new rule to ban companies from using mandatory arbitration clauses to deny groups of people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration clauses in their contracts that prevent consumers from joining together to sue their bank or financial company for wrongdoing. By forcing consumers to give up or go it alone – usually over small amounts – companies can sidestep the court system, avoid big refunds, and continue harmful practices. The CFPB’s new rule will deter wrongdoing by restoring consumers’ right to join together to pursue justice and relief through group lawsuits.

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Former Rentrak investors settle class action in Oregon state court for $19 million

Posted on: June 13th, 2017 by Steve Larson

Former shareholders of Rentrak Corp. sued the company and its directors in Oregon state court over a now-completed merger with comScore Inc.  The investors had accused Rentrak’s board and two top executives of accepting a low-ball offer from the web traffic analysis firm comScore in order to preserve their own jobs, failing to disclose a better bid to shareholders and caving to pressure from a major shareholder to seal the deal. Rentrak was in the audience measurement business.

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The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.

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This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.

About the author

  • Steve Larson

  • Steve Larson
  • Steve Larson has been representing investors, consumers and employees in class actions in Oregon for over 20 years. He is a shareholder at the law firm of Stoll Berne in Portland, Oregon.
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