Alternative Dispute Resolution (ADR) Finance & Banking

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Will the CFPB issue a final arbitration rule before Jan. 20?

Last week, the Wall Street Journal reported that the CFPB is pushing to finalize its arbitration rule before Donald Trump’s inauguration as President on January 20.  The comment period on the proposed rule closed on August...more

Your Daily Dose of Financial News

A new trading link dropping next week will give international investors access to more than 800 stocks listed on China’s Shenzhen stock market, the boom/bust venue best known for its “rampant speculation”....more

Chris Lazarini Analyzes Right to Jury Under Section 4 of Federal Arbitration Act

Bass, Berry & Sims Chris Lazarini analyzed a case outlining when a party is entitled to have a jury decide issues related to the making or enforceability of an arbitration agreement. ...more

[Webinar] The Elimination of Pre-Dispute Arbitration Clauses and the New Repayment Rates for Proprietary Schools - Dec. 8th,12pm...

The fourth webinar in our "Decoding the FINAL Borrower Defense Rule" series will examine the ban on pre-dispute arbitration agreements and class action waivers. We’ll discuss the impact of these rules on past and future...more

After Five Years In Court, West Virginia Finds Plaintiff Did Not Waive Right To Arbitrate

The highest state court in West Virginia just found that a credit card company did not waive its right to arbitrate, despite initially choosing a court forum and waiting almost five years to raise its right to arbitrate. ...more

ICC Commission Report Identifies Financial Institutions’ Preferences and Experience With International Arbitration

The report reveals trends in the use of arbitration, dispels common misconceptions and provides insights about when to choose arbitration. On November 9, 2016, the ICC Commission on Arbitration and ADR’s Task Force on...more

Arbitrator’s False Credentials Are Sufficient To Vacate Award

In most circumstances, the Federal Arbitration Act requires that the losing party move to vacate an arbitration award within three months. However, the Ninth Circuit recently ruled that the three-month timeline can be...more

Court Orders Parties to Retry Arbitration Seven Years After Award

In 2008, Move, Inc., initiated a FINRA arbitration against Citigroup Global Markets, alleging that Citigroup improperly invested over $131 million of Move's assets in illiquid and unsuitable auction rate securities. The...more

Election results portend significant changes for CFPB

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

Brexit: New Arbitration Alternatives for Financial Disputes

Recent innovations at a number of arbitral institutions have brought into sharp focus arbitration options for post Brexit financial disputes. The English Arbitration Act is in its 20th year. It provides a...more

Dept. of Ed. Bans Pre-Dispute Arbitration Agreements by Title IV Schools

The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more

Gone For Good: Federal Court Denies Arbitration Opportunity

A recent decision from the United States District Court for the Southern District of Florida is a reminder that if a litigant intends to enforce its contractual arbitration provision, the issue must be raised at an early...more

Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule

In this update on the litigation challenging the U.S. Department of Labor’s new fiduciary rule, we note that there has been a sixth lawsuit filed and oral arguments in two other cases.  ...more

Third Circuit Rejects Contractor’s Challenge To Arbitral Jurisdiction Based On Failure To Comply With Agreement’s Procedural...

The Third Circuit affirmed a lower court’s ruling against a contractor challenging an arbitrator’s authority in ordering payment of delinquent contributions to employee benefit funds. Plaintiff (“Nolt”) signed a Project Labor...more

Second Circuit Upholds Refusal To Compel Arbitration Due To Unavailable Forum, Recognizing Split In Federal Circuits

A borrower had previously entered into three payday loan agreements that contained arbitration provisions mandating that all claims be arbitrated in the National Arbitration Forum (NAF), and under the Code of Procedure of the...more

Texas Supreme Court Again Addresses Arbitration Waiver

In a per curium opinion last week styled RSL Funding, LLC v. Pippins, the Texas Supreme Court refined Texas law on when a party waives the right to arbitrate by substantially invoking the judicial process. Three individuals...more

Eleventh Circuit Doubles Down On The Importance Of Selecting An Available Arbitration Forum

The Eleventh Circuit affirmed a district court’s denial of a motion to compel arbitration on the grounds that the designated forum in the arbitration agreement was both unavailable and integral to the agreement. Appellee...more

Employee Benefits Developments - September 2016

Final IRS Regulations Eliminate Requirement to File 83(b) Election with Tax Return - Under Section 83(a) of the Internal Revenue Code (the “Code”), if property is transferred in connection with the performance of...more

Divided Third Circuit Panel Holds That Waiver Of Arbitration Clause Does Not Apply To Futile Arguments

On July 13, 2016, a U.S. Court of Appeals for the Third Circuit panel held that an arbitration clause is not waived simply because a party failed to raise a futile argument. The case arose out of a putative class action...more

CFPB’s Proposed Ban On Class Action Waivers Draws Widespread Criticism

In May 2016, the Consumer Financial Protection Bureau (“CFPB”) took another step in its effort to ban class action waivers in certain pre-dispute arbitration agreements for consumer financial products and services, formally...more

Uber Victory in Ninth Circuit Regarding Dispute Over Enforceability of Arbitration

The United States Court of Appeals for the Ninth Circuit (the “Ninth Circuit”) recently ruled that the majority of Uber’s contract drivers must resolve their disputes through individual arbitration and cannot pursue their...more

Eleventh Circuit Holds Arbitration Clause Unenforceable Due to Unavailability of Arbitral Forum

The Eleventh Circuit recently held in Parm v. National Bank of California, that a payday lender’s arbitration clause was unenforceable because the forum selected was unavailable and no alternative forum was provided for.The...more

To Arbitrate or Not to Arbitrate? Groups Comment on CFPB Proposal

As the deadline for input nears, stakeholders on both sides of the issue filed comments weighing in on the Consumer Financial Protection Bureau’s (CFPB or the Bureau) proposal on arbitration....more

Third Circuit Affirms Dismissal Of Suit To Vacate FINRA Arbitration Award

This case involved an underlying arbitration before an arbitration panel operating under the Financial Industry Regulatory Authority (“FINRA”) rules, which was brought by Judith and Kenneth Goldman against their financial...more

Bi-partisan Congressmen seek arbitration safe harbor allowing class action waivers

Republican Congressman Randy Neugebauer, who chairs the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, and Democratic Congressman W. Lacy Clay, the Subcommittee’s Ranking...more

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