Latest Posts › Consumer Contracts

Share:

Ninth Circuit: Arbitration clause prevails in “true lender” challenge against OppFi

In a recent unpublished memorandum opinion in a putative class action, Carpenter et al. v. Opportunity Financial, LLC, the U.S. Court of Appeals for the Ninth Circuit upheld an arbitration clause in an agreement governing...more

Consumer Finance Monitor Podcast Episode: A Look at a New Approach to Consumer Contracts [Video]

Our special guest is Andrea Boyack, Professor, University of Missouri School of Law. We first discuss the principles that underlie our current system of consumer contracts and the system’s role in promoting transactional...more

Comment letters from consumer advocates bolster case against CFPB rulemaking on post-dispute arbitration clauses

We previously reported and released a podcast episode on comments that we and Professor David Sherwyn of Cornell University submitted in opposition to the Petition for Rulemaking filed by a number of consumer advocacy groups...more

Consumer Finance Monitor Podcast Episode: Reasons Why the CFPB Should Deny the Petition for Rulemaking on Post-Dispute Consumer... [Video]

Our special guest is David Sherwyn, Professor of Law at Cornell University's School of Hotel Administration. In Sept. 2023, a group of consumer advocate organizations filed a Petition for Rulemaking with the CFPB that would...more

Businesses Beware: CFPB Reviewing ‘All Sorts’ of Consumer Contract Clauses

On September 13, 2022, Public Justice and other consumer advocacy groups sent a letter to CFPB Director Chopra urging the CFPB to limit the use of “forced” arbitration provisions by banks and other consumer finance companies....more

Businesses Beware: CFPB reviewing “all sorts” of consumer contract clauses

On September 13, 2022, Public Justice and other consumer advocacy groups sent a letter to CFPB Director Rohit Chopra urging the CFPB to limit the use of “forced” arbitration provisions by banks and other consumer finance...more

Will Blair Be the Next Concepcion?

This alert follows on our previous report about the Ninth Circuit’s decision in Blair v. Rent-A-Center, Inc. and two companion cases holding that the Federal Arbitration Act (FAA) does not preempt the California Supreme...more

NY legislature passes bills to extend coverage of plain language law and prohibit use of social network information for evaluating...

Two bills relevant to consumer finance have been passed by the New York Assembly and Senate and are awaiting Governor Cuomo’s signature. The first bill, S3704, would amend New York’s plain language requirement to extend...more

ALI annual meeting ends with uncertain future for Restatement of the Law, Consumer Contracts

I am pleased to report that as a result of the efforts of its business and consumer critics (among whom I include myself), the Tentative Draft of the Restatement of the Law, Consumer Contracts was put “on hold” yesterday at...more

State AGs urge rejection of ALI’s draft Restatement of the Law, Consumer Contracts

Earlier yesterday, I published a blog post explaining why I believe the American Law Institute’s members should not approve the Tentative Draft of the Restatement of the Law, Consumer Contracts (the “Restatement”) on which...more

ALI’s Restatement of the Law, Consumer Contracts: an ill-conceived and poorly implemented project

At the American Law Institute’s annual meeting next Tuesday in Washington, D.C., members will be voting on whether to approve a Tentative Draft of the Restatement of the Law, Consumer Contracts (the “Restatement”).  ...more

Georgia Supreme Court Ruling Is Helpful Precedent for Litigation Financing Industry

Consistent with the weight of authority, the Georgia Supreme Court has ruled that certain litigation financing agreements structured as asset sales were not disguised "loans," and therefore not subject to the state's...more

Connecticut Banking Dept. takes no-action position on new demographic data reporting requirement for sales finance companies

In August 2018, we reported about significant changes to Connecticut’s licensing laws for consumer financial services providers that were to take effect on October 1, 2018.  ...more

Online Arbitration Agreement Must Be “Reasonably Communicated and Accepted”

Ruling in a class action brought against Uber Technologies, Inc., the U.S. Court of Appeals for the First Circuit recently held that the company's arbitration clause could not be enforced because it was not "reasonably...more

Oral Revocation of TCPA Consent Ineffective Where Agreement Required Written Notice, Court Rules

A consumer's alleged oral revocation of consent to receive autodialed or prerecorded calls to his cell phone was ineffective under the Telephone Consumer Protection Act (TCPA) when his credit card agreement provided that...more

Seventh Circuit Denies Arbitration of Accountholder Daughter’s TCPA Class Action Claims

In A.D. vs. Credit One Bank, N.A., the U.S. Court of Appeals for the Seventh Circuit reversed a district court order compelling individual arbitration of a putative class action for Credit One's alleged violations of the...more

Second Circuit, on Truncated Record, Holds Dispute Implicating Core Bankruptcy Proceeding Non-Arbitrable

In a recent decision pitting the Bankruptcy Code against the Federal Arbitration Act (FAA), the U.S. Court of Appeals for the Second Circuit held that a creditor could not compel arbitration of a debtor's class action claims...more

CFPB Finally Acknowledges Arbitration Rule “Has No Force or Effect”

Two weeks after President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule, the CFPB has formally acknowledged Congress’ override of the rule under the...more

Director Cordray criticizes CRA override of CFPB arbitration rule

In a blog post last week, we noted that there had been no official statement from the CFPB about Congress’ override of the CFPB’s arbitration rule, which President Trump signed on November 1....more

Finance industry groups file dismissal notice in lawsuit seeking to overturn CFPB arbitration rule

The plaintiffs in the lawsuit filed by industry groups in a Texas federal district court against the CFPB to overturn the final arbitration rule have filed a Notice of Voluntary Dismissal....more

71 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide