Alternative Dispute Resolution (ADR) Consumer Protection

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Could Guaranteeing a Minimum Recovery for Consumers Abate CFPB Concerns Regarding Class Waivers in Arbitration Agreements?

With the recent release of the Consumer Financial Protection Bureau’s “Arbitration Study: Report to Congress, pursuant to Dodd–Frank Wall Street Reform and Consumer Protection Act § 1028(a)”, it is widely anticipated that the...more

CFPB Casts Doubt on Pre-dispute Consumer Arbitration Clauses

Earlier this month, the Consumer Financial Protection Bureau (CFPB), a bureau of the Federal Trade Commission, released its Arbitration Study Report to Congress. The report suggests that pre-dispute arbitration clauses and...more

Not Saved By The Bell: Dismissing Classes Prediscovery

Two billion dollars. That is what the top legal counsel at nearly 350 companies spent on the defense of class actions in 2014. In addition to the cost of outside counsel, on average, companies dedicate six in-house...more

Sovern v. Kaplinsky

In its study of consumer arbitration dated March 10th, the CFPB concluded that relatively few consumer arbitrations have been filed. In a recent Consumer Law & Policy blog, Professor Jeff Sovern states that he is “skeptical”...more

SCOTUS Will Hear Arbitration Case in October Term

Just as I was beginning to worry that arbitration had fallen out of favor at the nation’s highest court… today the Supreme Court announced that it will hear the case of DIRECTV, Inc. v. Imburgia during its October Term, an...more

CFPB Releases Study on Use of Arbitration Clauses in Consumer Contracts

Last week, the Consumer Financial Protection Bureau (CFPB) released its 728-page report on the use of arbitration clauses in consumer financial products and services contracts. The findings in the report come from a...more

CFPB Issues Arbitration Study – Possible Impact On Reinsurance Unclear

The Consumer Financial Protection Bureau has issued a study that is critical of arbitration in the context of consumer claims, contenting that arbitration “restricts” the rights and remedies of consumers by limiting or...more

CFPB Signals Potentially Expanding Class Actions

Future CFPB regulations limiting the use of arbitration clauses in consumer financial reports seem likely in light of last week’s press release discussing the CFPB’s 782-page study finding that “arbitration clauses restrict...more

Washington State Newsletter - Spring 2015

2014 Year in Review - Last year was another successful year for the JAMS Seattle Resolution Center. We welcomed esteemed King County Superior Court Judge Deborah Fleck to our panel, added 1,900 square feet to...more

CFPB Releases Final Study on Arbitration

On March 10, the CFPB announced the release of its final arbitration study, accompanied by a fact sheet, to coincide with its field hearing held in Newark, NJ. The study examined approximately 850 consumer financial...more

The CFPB’s Final Report on Pre-Dispute Arbitration Clauses

On March 10, 2015, the CFPB issued its long-awaited Arbitration Study analyzing the use of pre-dispute arbitration provisions in connection with consumer financial products or services. In the 728-page report, as well as...more

Consumer Financial Protection Bureau’s Dodd-Frank Study Scrutinizes Arbitration Agreements & Class Action Waivers

On Tuesday, the Consumer Financial Protection Bureau (“CFPB”) released its long-awaited “Arbitration Study: Report to Congress, pursuant to Dodd–Frank Wall Street Reform and Consumer Protection Act § 1028(a)”, which presents...more

Illinois Federal Court Allows FCRA Lawsuit Against Credit Reporting Company to Move Forward

On February 5, the U.S. District Court for the Northern District of Illinois denied a credit reporting company’s motion to compel arbitration in a putative class action which alleged that the company sold credit scores to...more

CFPB Holds Field Hearing On Arbitration Report

On March 10th, the CFPB held a public field hearing in Newark, New Jersey to address the release of its arbitration report to Congress. The event featured opening remarks from Director Richard Cordray, as well as commentary...more

CFPB 2015 Arbitration Study: coming curbs on consumer financial services contract arbitration provisions - 6 steps for businesses

The Consumer Financial Protection Bureau (the CFPB) 2015 Arbitration Study, released yesterday in conjunction with a speech by CFPB Director Richard Cordray, lays the groundwork for rule making to broadly restrict the use of...more

The CFPB and the Future of Arbitration Clauses

The CFPB has issued a report regarding mandatory consumer arbitration clauses, a sign that arbitration clauses may become passé. On March 10, the Consumer Financial Protection Bureau (CFPB), as required by section...more

CFPB Says Arbitration Agreements Limit Consumer Relief in Class Actions; New Regulations on the Horizon?

The Supreme Court’s 2011 decision in AT&T Mobility LLC v. Concepcion upheld an arbitration clause requiring arbitration of claims individually, thereby effectively preventing class actions. While the consumer finance industry...more

Beyond the Headlines Part II: What The New CFPB Report Teaches Us About Arbitration v. Litigation

In my last post, I shared some of the highlights from the first half of the new CFPB Arbitration Study.  This post covers the second half of the report, with juicy information gleaned from CFPB’s analysis of almost...more

CFPB Updates - March 2015

CFPB Report Claims Arbitration “Less Beneficial To Consumers” than Individual or Class Litigation, Foreshadows Attempt to Impose Restrictions in Future - On March 10, Director Richard Cordray of the Consumer Financial...more

Beyond the Headlines Part I: What The New CFPB Report Teaches Us About Arbitration Clauses

The Consumer Financial Protection Bureau released an “Arbitration Study” exceeding 700 pages to Congress this week.  You have likely heard the headlines – most commentators assume that the CFPB will use the study to support...more

Financial Services Report - Spring 2015

In This Issue: - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report - Privacy...more

CFPB Releases Final Arbitration Study Results

The Consumer Financial Protection Bureau has released final results of its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act. Section 1028 provides that the CFPB, “by regulation, may prohibit or...more

Hearing, Report May Forecast CFPB Rulemaking on Arbitration Provisions

Section 1028 of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes the Consumer Financial Protection Bureau (CFPB) to limit or even prohibit the use of arbitration provisions that govern future disputes...more

CFPB Schedules Arbitration Field Hearing

The CFPB announced on February 23 that it plans to host a field hearing on the issue of arbitration provisions within various consumer financial contracts. According to the CFPB’s blog post, the hearing will take place on...more

Forced Arbitration Pervades Contractual Agreements, Binding Consumers

Margaret Jane Radin, author of Boilerplate: The Fine Print, Vanishing Rights, and the Rule of Law, is of the point of view that the American court system is “allowing contract to gobble up tort.” In other words, the 37-year...more

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