The new rule will enforce the consumer's right to take part in group lawsuits with the body hoping it will promote more transparency and accountability for large companies. Additional requirements for documentation and reporting measures will also be required when companies do undergo arbitration.
Litigation
Earlier this year the New York Attorney General and the CFPB filed a lawsuit against RD Legal Funding, LLC and founder/owner Roni Dersovitz for allegedly scamming 9/11 first responders and NFL concussion victims out of money intended to cover medical costs, lost income and other critical personal needs. It has also been a key instigator in other high profile cases including against against Navient, the largest servicer of US student loans.
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