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Civil Procedure Alternative Dispute Resolution (ADR) Consumer Protection

Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:

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

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press release issued earlier this week, Senator Elizabeth Warren argued that the CFPB’s arbitration rule should not be repealed under the Congressional Review Act because consumers recovered “in only 9 percent of the...more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

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

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

House Financial Services Committee details case for contempt proceedings against Director Cordray for failing to comply with...

by Ballard Spahr LLP on

A report by the majority staff of the House Financial Services Committee concludes that there is a “valid and factual basis” for instituting contempt of Congress proceedings against Director Cordray. The report states that...more

Highlights From DRI Class Action Seminar 2017 – Day Two

Here are my highlights from the second day of DRI’s 2017 Class Action Seminar: Class Action Waivers in Employment Agreements (Neal Katyal of Hogan Lovells) - Neal Katyal is a leading Supreme Court advocate and is litigating...more

On the Chopping Block: The Effort to Repeal the CFPB’s New Rule on Consumer Class Actions

On July 19, 2017, the Consumer Financial Protection Bureau (“CFPB”) published a new rule that has the potential to significantly increase the number of class action lawsuits brought by consumers against their financial...more

State AGs urge Senate rejection of CRA resolution to disapprove CFPB arbitration rule

by Ballard Spahr LLP on

A group of 19 state attorneys general and the District of Columbia attorney general have sent a letter to Senate Majority Leader Mitch McConnell and Senate Minority Leader Charles Schumer expressing the AGs’ “strong...more

House Financial Services Committee Democratic staff report on CFPB assails Republicans, defends CFPB and arbitration rule

by Ballard Spahr LLP on

A report prepared by the Democratic staff of the House Financial Services Committee takes aim at Republicans for “attempt[ing] to ensure that the country reverts back to a big bank-oriented regulatory environment and to...more

CFPB Issues Final Rule Banning Class Action Waivers in Arbitration Clauses

by Stinson Leonard Street on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) released its long-awaited and controversial final rule on arbitration agreements in contracts for financial products and services. The rule, which takes effect...more

Trade associations urge Congress to disapprove CFPB arbitration rule

by Ballard Spahr LLP on

A group of 11 trade associations have sent a letter to members of Congress expressing their “strong disapproval” of the CFPB’s final arbitration rule and urging Congress to pass the resolutions introduced in the House and...more

House passes H.J. Res. 111 to override CFPB arbitration rule

by Ballard Spahr LLP on

Yesterday afternoon, the House of Representatives, by a 231-190 partisan vote, passed H.J. Res. 111 which provides for Congressional disapproval under the Congressional Review Act (CRA) of the CFPB’s final arbitration rule...more

House likely to pass H.J. Res. 111 today to override CFPB Arbitration Rule

by Ballard Spahr LLP on

Yesterday at 5:00 p.m., the House Rules Committee, by a 9-4 partisan vote, reported a rule on H.J. Res. 111 with a recommendation that the resolution be adopted. H.J. Res. 111 provides for Congressional disapproval under the...more

CFPB Issues Final Arbitration Rule: Who Is Covered and How Does It Affect Your Business

The CFPB, after entertaining numerous comments, issued its final arbitration rule on Monday, July 10. The rule prohibits specified providers of certain consumer financial products and services (loans, credit cards, and other...more

Republican lawmakers move forward on CRA resolutions to override CFPB arbitration rule

by Ballard Spahr LLP on

House and Senate Republicans announced yesterday that they are sponsoring Congressional Review Act resolutions to override the CFPB’s final arbitration rule, which was published in the Federal Register. ...more

CFPB Rules Permitting Consumer Class Actions Against Financial Institutions Set to Take Effect Absent Action by Congress

by Bracewell LLP on

In 2016, the Consumer Financial Protection Bureau (CFPB) announced that it was seeking public comment on proposed rules that would limit the effect of mandatory arbitration clauses for consumer finance transactions and allow...more

Acting Comptroller reacts to Director Cordray’s latest response; final arbitration rule published in Federal Register

by Ballard Spahr LLP on

In a letter dated July 18, 2017 to Acting Comptroller Noreika purporting to respond to Acting Comptroller Noreika’s July 17 letter, Director Cordray continued to question how there could be “any plausible basis for [Acting...more

Director Cordray continues to doubt that safety and soundness concerns are raised by the final arbitration rule

by Ballard Spahr LLP on

The letter-writing war between Director Cordray and Acting Comptroller Keith Noreika continues. Director Cordray sent a letter dated July 18, 2017 to Acting Comptroller Noreika in which he purports to respond to Acting...more

CFPB final arbitration rule to be published in Federal Register on July 19

by Ballard Spahr LLP on

The CFPB final arbitration rule is scheduled to be published in the Federal Register today, July 19. The rule’s effective date will be the 60th day after publication and the compliance date will be March 19, 2018. Based...more

Acting Comptroller asks Director Cordray to delay publication of CFPB final arbitration rule

by Ballard Spahr LLP on

Keith Noreika, the Acting Comptroller of the Currency, has sent a letter dated July 17 to Director Cordray asking him to delay publication of the CFPB’s final arbitration rule in the Federal Register. The July 17 letter...more

The Consumer Financial Protection Bureau’s Summer Gift to Plaintiff’s Counsel

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Consumer Financial Protection Bureau issued a final rule that exposes financial services companies to increased litigation by banning the use of arbitration agreements to block consumer class actions. ...more

State bankers associations urge CRA override of CFPB arbitration rule

by Ballard Spahr LLP on

State bankers associations from all 50 states and Puerto Rico have sent a letter to Senate Majority Leader Mitch McConnell and Senate Minority Leader Charles Schumer urging them to support efforts to override the CFPB’s final...more

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