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Alternative Dispute Resolution (ADR) Finance & Banking General Business

Read Alternative Dispute Resolution updates, alerts, news, and commentary from leading lawyers and law firms:

Bank Compels Arbitration of Overdraft Class Action

Reversing a Florida district court action, the U.S. Court of Appeals, Eleventh Circuit agreed with a national bank that a class action challenging overdraft fees should be moved to arbitration....more

How does Last Best Offer Interest Arbitration Work When The State Has Not Adopted Its Budget?

According to the State Department of Education, approximately 100 Connecticut school districts are scheduled to engage in negotiations with teacher and/or administrator bargaining units by the end of December, 2017. As those...more

U.S. Chamber of Commerce Challenges CFPB Rule Immunizing Class Actions from Arbitration Clauses

by Goodwin on

On September 29, 2017, the United States Chamber of Commerce and various business and financial services groups (collectively, Plaintiffs) filed a complaint for declaratory and injunctive relief in the United States District...more

Judge Fitzwater Assigned to Hear Industry Suit to Block CFPB Arbitration Rule is Experienced and Well-Respected

by Ballard Spahr LLP on

As we’ve mentioned, the finance industry recently filed suit to overturn the CFPB’s arbitration rule in the U.S. Federal District Court for the Northern District of Texas. Shortly after the case was filed, it was assigned to...more

Employee Benefits Developments - September 2017

by Hodgson Russ LLP on

Arbitration Clause in Employee Handbook Requires Participant to Arbitrate Fiduciary Breach Claims Against Investment Advisor - Cooper v. Ruane Cunniff & Goldfarb Inc. (S.D.N.Y. 2017) - In a major victory for an...more

What is the deadline for the Senate to pass a CRA resolution to override the CFPB’s arbitration rule?

by Ballard Spahr LLP on

Despite the filing of a lawsuit last Friday by a number of industry trade groups seeking to block implementation of the CFPB’s arbitration rule, we remain hopeful that the Senate will pass a resolution of disapproval under...more

Courts Lose Jurisdiction To Vacate Arbitration Award After Three Months

The Nebraska Supreme Court recently had the unenviable task of determining whether the three month time period that the FAA provides for vacating an arbitration award is a statute of limitation (subject to tolling) or is...more

California Bill Would Ban Arbitration in Fraudulent Bank Contracts

In the wake of a scandal involving a national bank that allegedly opened millions of accounts without the consent of consumers, the California legislature has passed a bill that would prohibit the application of mandatory...more

Finance Industry Files Lawsuit to Overturn CFPB Arbitration Rule

by Ballard Spahr LLP on

The U.S. Chamber of Commerce, American Bankers Association, the Consumer Bankers Association, Financial Services Roundtable, American Financial Services Association, Texas Association of Business, Texas Bankers Association,...more

In A Stunning Rebuke To CFPB, OCC Finds Arbitration Rule Will Significantly Increase Cost Of Consumer Credit

by Ballard Spahr LLP on

In a September 20 report, the Office of the Comptroller of the Currency (OCC) seriously undermined the integrity and completeness of the CFPB’s empirical study of consumer arbitration that purports to be the foundation for...more

Intra-EU Bilateral Investment Treaties: compatible with EU law after all?

by White & Case LLP on

In an advisory Opinion to the CJEU, Advocate General Wathelet has advised that an Investor-State Dispute Settlement mechanism between two Member States is not contrary to EU law. He also considers that, in disputes arising...more

Crucial Labor and Employment Issues on the Line in Landmark U.S. Supreme Court Case

Schnader Assesses Landmark Labor Case in U.S. Supreme Court - The U.S. Supreme Court will hear oral argument on Monday, October 2 in Epic Systems Corp. v. Lewis, an important labor and employment case in which Schnader...more

Arizona Court of Appeals Clarifies Law Governing Arbitration Waiver

by Snell & Wilmer on

In Security Alarm Financing Enterprises, L.P. v. Fuller, et al., Case No. 1 CA-CV 16-0255 (Ariz. Ct. App. July 6, 2017), the Arizona Court of Appeals recently held as a matter of first impression that Arizona state courts...more

Real Property & Title Insurance Update: Weeks Ending September 8 & 15, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Summary judgment: trial court erred by denying borrower’s motion to amend answer and defenses, and therefore erred in entering summary judgment in favor of lender. Reyes v BAC Home Loans Servicing...more

Professor Sovern Disagrees with Senator Warren and Concedes that Consumers Do Well in Arbitration But Raises Another Red Herring

by Ballard Spahr LLP on

Professor Jeff Sovern has responded to our recent blog, “Senator Warren’s Numbers Don’t Add Up,” with a blog of his own. He does not contest the main point of our blog, which was that Senator Warren’s claim that consumers...more

Africa Focus: Arbitration in Africa - Managing risk in a growing market

by White & Case LLP on

Today, many areas of the African economy are still growing despite challenges due to sharp reductions in the price of oil and other natural resources. Besides the industries related to the continent's natural resources,...more

Senator Warren’s Numbers Don’t Add Up

by Ballard Spahr LLP on

In a press release issued earlier this week, Senator Elizabeth Warren argued that the CFPB’s arbitration rule should not be repealed under the Congressional Review Act because consumers recovered “in only 9 percent of the...more

CFPB Issues Final Rule Prohibiting Class Action Waiver Arbitration Agreements In Certain Consumer Financial Contracts

by Carlton Fields on

The Consumer Financial Protection Bureau issued a final rule on July 10, 2017, prohibiting providers of certain consumer financial products and services from including within consumer agreements a requirement that any future...more

McDermott International Legal Highlights - August 2017

by McDermott Will & Emery on

Privacy Shield Implementation and How-To Kit from McDermott Will & Emery - Japanese companies may have European branches or subsidiaries that send personal data to the US or that may be accessed by entities in the US,...more

Director Cordray’s Op-Ed Disregards Many Inconvenient Facts

by Ballard Spahr LLP on

In an op-ed published in today’s New York Times, CFPB Director Richard Cordray argues against congressional repeal of the agency’s final arbitration rule by “correcting the record.” He contends that the CFPB’s March 2015...more

Eleventh Circuit Doesn’t Waffle on Enforceability of Arbitration Agreement

by Carlton Fields on

The Eleventh Circuit Court of Appeal found that an arbitration agreement entered into by a putative class representative and his eventual employer was enforceable even though the agreement was signed after the plaintiff filed...more

CFPB Arbitration Rule Hits a Roadblock

The Consumer Financial Protection Bureau (CFPB) issued a final rule on pre-dispute arbitration agreements on July 10, 2017. The final rule was published in the Federal Register on July 19, 2017, and as such, it is due to...more

CFPB Final Arbitration Rule Bans Class Action Waivers, But Will it Survive?

by Moore & Van Allen PLLC on

The Consumer Financial Protection Bureau (CFPB) recently announced the release of its final rule prohibiting the use of class action waivers in certain consumer finance arbitration agreements. The rule has been several years...more

CFPB Final Rule Banning Class Action Waivers in Arbitration Agreements: The Final Front of Opposition as Congress Moves to Nullify...

by Moore & Van Allen PLLC on

The Consumer Financial Protection Bureau (CFPB) recently announced the release of its final rule that prohibits the use of class action waivers in certain consumer finance arbitration agreements. This rule banning class...more

Six Arbitration Trends In 2017 (6th Blogiversary Post)

This is my 290th post at ArbitrationNation and today I celebrate six years of blogging. Woo hoo — that’s longer than most celebrity marriages! In honor of the occasion, here are updates on six of the hottest issues in...more

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