A final ruling issued by the Consumer Financial Protection Bureau (CFPB) on July 10 bans financial services companies, including credit, debit, and prepaid card issuers, from using mandatory arbitration clauses to deny cardholders participation in class-action lawsuits. Mandatory arbitration clauses require that disputes between an issuer and a cardholder be resolved either in front of a privately appointed arbitrator or, in some cases, a small claims court. While the CFPB ruling does not prohibit issuers from including arbitration clauses in future cardholder agreements, it does require langu...