Consumer Financial Protection Bureau Director Richard Cordray says financial firms use arbitration to "sidestep the legal system [and] avoid accountability." But industry officials say a proposed ban on mandatory arbitration clauses will lead to frivolous legal action. Steve Helber/AP hide caption

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New Rule Would Make It Easier For Consumers To Sue Banks

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President Obama remarks on his proposal to tighten consumer protections for people saving for retirement as Sen. Elizabeth Warren and Labor Secretary Tom Perez listen, at AARP on Monday. Getty Images hide caption

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White House Move To Protect Nest Eggs Sparks Hopes And Fears

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