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Time to ReCalibrate Consumer Interactions?

Today’s announcement from the federal Consumer Financial Protection Bureau (CFPB) empowering consumers to file class-action lawsuits against financial services firms is sure to have profound repercussions—and not just for Wall Street. If it takes effect later this year, it’s going to force every player in the financial services industry—from the biggest investment banks and credit card companies to upstart venture capital firms—to recalibrate their interactions with consumers.

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