(Co-written by Jason Johnston, the Henry L. and Grace Doherty Charitable Foundation Professor at the University of Virginia School of Law) Early in October, the Consumer Financial Protection Bureau unleashed its latest effort to remake the American consumer credit system. This time, the bureau is targeting the provisions in consumer credit contracts that require disputes to be handled through arbitration rather than class action lawsuits. Our recent Mercatus Center working paper suggests that-despite the consumer protection rhetoric-class action lawyers, not consumers, will benefit from the bu...