Finance & Banking, Alternative Dispute Resolution (ADR)

Court Holds Non-Parties May Enforce Arbitration Agreement Even Though The General Rule Is That They Can’t

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/24/2013

The Financial Industry Regulatory Authority, more commonly known as FINRA, has adopted a Code of Arbitration for Customer Disputes (FINRA has a separate code for industry disputes). Under FINRA’s Customer Code, a claim by or...more

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

by Loeb & Loeb LLP on 5/22/2013

The Consumer Financial Protection Bureau has enacted a new rule that will prohibit the inclusion of mandatory arbitration provisions and waivers of federal statutory causes of action in consumer mortgage and home equity loan...more

Florida Complex Litigation Update: Raymond James Financial Services, Inc. v. Phillips: Florida Supreme Court rules that statute...

by Fuerst Ittleman David & Joseph, PL on 5/21/2013

Resolving a matter of first impression in Florida, the Florida Supreme Court recently issued its decision in Raymond James Financial Services, Inc. v. Phillips, Case No. SC11-2513 (Fla. May 16, 2013), concluding that...more

Resource nationalism and its impact on infrastructure projects

by Peter Cassidy, Joseph Otoo | Reed Smith on 5/19/2013

Introduction - The global demand for natural resources continues unabated. As revenues increase and profits soar in the face of this demand, there has been a resurgence of “resource nationalism” with resource-rich host states...more

TILA Ban on Mandatory Arbitration in Mortgage Loans Takes Effect June 1

by Richard J. Andreano, Jr., Alan S. Kaplinsky, Mark J. Levin, Jeremy T. Rosenblum | Ballard Spahr LLP on 5/17/2013

The Truth in Lending Act (TILA) ban on mandatory arbitration provisions in certain mortgage loans becomes effective on June 1, 2013. Lenders now using mortgage loan documentation containing such provisions should take steps...more

"The Increasing Appeal and Novel Use of Bilateral Investment Treaties"

by David Herlihy, David Kavanagh, Timothy Nelson | Skadden, Arps, Slate, Meagher & Flom LLP on 4/30/2013

Over the last 20 years, bilateral investment treaties (BITs) have provided foreign investors with basic safeguards against expropriation and related risks and guarantee the right to bring claims before a neutral arbitral...more

Director Cordray’s appearance at Senate Banking Committee hearing yields arbitration news

by Barbara S. Mishkin | Ballard Spahr LLP on 4/25/2013

The only new item of information revealed by Director Cordray during his appearance yesterday before the Senate Banking Committee hearing (in response to a question from Senator Elizabeth Warren) was that he feels “quite...more

Ninth Circuit Enforces Student Loan Arbitration Agreement

by BuckleySandler LLP on 4/24/2013

On April 11, the U.S. Court of Appeals for the Ninth Circuit, sitting en banc, held that a national bank could compel arbitration of a dispute involving student loans. Kilgore v. KeyBank, Nat’l Ass’n, No. 09-16703, 2013 WL...more

FTC Recommends Stronger Safeguards for Mobile Payments

by Karen H Bromberg | Cohen & Gresser LLP on 4/18/2013

With the use of mobile payments by consumers reaching “fever pitch”, the FTC has released a new report entitled, “Paper, Plastic… or Mobile? An FTC Workshop on Mobile Payments,” discussing how companies can develop mobile...more

Cyprus Bailout: Potential Recourse for Lost Investments

by Owen Hammond, Bruce Johnston, Peter Sharp, Iain Wright | Morgan Lewis on 4/15/2013

Large depositors in Cyprus's two largest banks may consider international arbitration and appeals to the European courts to recover funds lost under the bailout plan....more

CFPB responds to arbitration study inquiry from Republican House members

by Alan S. Kaplinsky | Ballard Spahr LLP on 4/8/2013

Last April, the CFPB announced that it was beginning its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act. Last week, nearly a year after that announcement, David Silberman, the CFPB’s Associate...more

Mortgage Foreclosure Mediation Program Terminated By Florida Supreme Court

by Messer & Caparello, P.A. on 4/4/2013

Florida has the highest foreclosure rate in the country, with some sources showing a 3.11% foreclosure rate in 2012 – more than double the national average. At the end of 2009, with nearly 500,000 pending foreclosures and a...more

Corporate and Financial Weekly Digest - March 29, 2013

by Katten Muchin Rosenman LLP on 4/1/2013

In this issue: - Proposed Change to FINRA Rule Regarding Release of Disciplinary Complaints, Decisions and Other Information - SEC Approves on an Accelerated Basis FINRA Rule Change Relating to Margin...more

FTC Recommends Consumer Protections for Mobile Payment Industry

by Wilson Sonsini Goodrich & Rosati on 4/1/2013

The Federal Trade Commission (FTC) has released a staff report on mobile payments, which identifies and makes recommendations for three key issues in the mobile payment industry that the FTC believes present consumer...more

"UK’s Department of Business, Innovation and Skills Proceeds with Private Competition Action Reforms"

by Patrick Heneghan, David Kavanagh, James Keyte, Gary MacDonald, Tiffany Rider, Ingrid Vandenborre | Skadden, Arps, Slate, Meagher & Flom LLP on 3/28/2013

The U.K.’s Department of Business, Innovation and Skills (BIS) has issued a ‘government response’ or plan for reform indicating that the government will move forward with a number of substantial changes to the U.K.’s...more

Burr Alert: FINRA Amends Subpoena And Arbitrator Order Rules

by Benjamin Coulter, Mignon Lunsford | Burr & Forman on 3/27/2013

In its recent Regulatory Notice 13-04, the Financial Industry Regulatory Authority ("FINRA") announced amendments to its Customer and Industry Codes of Arbitration Procedure related to subpoenas and arbitrator orders for the...more

Dodd-Frank News - March 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Monthly Update

by Rachel Cash, David Elliott, Kristin Peters, Jordan Teague | Burr & Forman on 3/27/2013

In This Issue: - Recent Cases ..CFTC Jurisdiction Under the Commodity Exchange Act ..Dodd-Frank Amendment to the TILA ..Preemption ..Say-On-Pay Voting ..Pre-Dispute Arbitration Agreements ...more

Financial Services Report - Spring 2013

Editor’s Note - This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more

Controversial FINRA Decision Invalidates Rules Against Class Action Waiver in Arbitration Agreements

by Kristen Wenger | Fowler White Boggs P.A. on 3/12/2013

A hearing panel of the Financial Industry Regulatory Authority (“FINRA”) recently issued a decision that has been lauded and decried as the death knell for class actions by securities investors. In 2011, Charles Schwab & Co....more

FINRA: The FAA Requires Enforcement of Judicial Class Action Waiver in Pre-Dispute Arbitration Agreement But Does Not Preempt...

by Lloyd B. Chinn, Patrick Lamparello, Adam Lupion | Proskauer Rose LLP on 3/7/2013

On February 21, 2013, the Financial Industry Regulatory Authority (FINRA) issued a written decision finding that the Federal Arbitration Act (FAA) bars FINRA from enforcing FINRA Rules intended to preserve judicial class...more

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Finance & Banking › Alternative Dispute Resolution (ADR)