Finance & Banking Alternative Dispute Resolution (ADR)

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Clickwrap Agreement Available Only Through Hyperlink Enforceable Under New York Law

Last week, the Southern District of New York followed a long line of precedent under New York law and upheld the enforceability of a website clickwrap agreement, granting a website operator’s motion to compel arbitration...more

UPDATE – Indonesia’s New Draft Oil & Gas Law

Indonesia has recently made public a full copy of its draft oil and gas law for review and parliamentary discussion. By way of update to our client alert of 21 April 2015, we can now review the further revised and full...more

CFPB’s Corday Reiterates Intent to Pursue Rulemaking on Consumer Arbitration Clauses, Despite Opposition

In testimony before the Senate Committee on Banking, Housing & Urban Affairs on July 15, CFPB Director Richard Cordray affirmed the Bureau’s intention to proceed with rulemaking governing arbitration clauses in consumer...more

Trade groups comment on CFPB final arbitration study results

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable (Associations) have filed a joint letter commenting on the final results of the CFPB’s arbitration study released in...more

Enforcing arbitral awards in Sub-Saharan Africa--Part 1

Arbitration analysis: In Part 1 of this series, Steven Finizio, Danielle Morris and Katherine Drage of Wilmer Cutler Pickering Hale and Dorr LLP explore the importance of enforcement of arbitral awards to those investing in...more

Federal Arbitration Case Update | Compelling and Appealing

Following are two recent federal court rulings related to arbitration. Acknowledgement of Dispute Resolution Policy Sufficient to Compel Arbitration of Retaliation Claim - Ashbey v. Archstone Property Management,...more

U.S. House Appropriations Committee Approves Amendment to Delay CFPB Arbitration Rule

On June 17, the U.S. House Appropriations Committee approved an amendment that would require the CFPB to conduct a peer-reviewed cost-benefit analysis of the use of arbitration agreements prior to issuing a final rule....more

New empirical study of AAA arbitrations is a study in contradictions

A new empirical study of approximately 5,000 American Arbitration Association (AAA) consumer arbitrations conducted between 2009 and 2013 purports to find a “repeat player” effect favoring companies that previous researchers,...more

Arbitrability of Intra-Company Disputes – an Offshore Perspective

Arbitrability is a question of considerable importance – it is the question of whether a particular issue in dispute is capable of being resolved by arbitration as opposed to litigation – and is therefore a question of...more

FINRA Proposes Amendments to Arbitration Codes in an Attempt to Increase Efficiency and Effectiveness of Arbitration Process

The Financial Industry Regulatory Authority (“FINRA”) recently filed a proposed rule change with the Securities and Exchange Commission (“SEC”) to amend Rules 12214 and 12601 of the Code of Arbitration for Customer Disputes...more

For Life Insurers and Agents – A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

The Department of Labor’s recent Proposed Rule (the “Proposal”), which defines the term “fiduciary” as it applies to persons who provide “investment advice” to ERISA plans and IRAs, will impact the likelihood and severity of...more

Court Dismisses Challenge Of FINRA Arbitration Award For Lack Of Jurisdiction

In a case involving a FINRA arbitration between investors and their financial advisor, Judge Anita S. Brody of the United States District Court for the Eastern District of Pennsylvania found that she did not have the...more

Lawmakers urge CFPB to reopen arbitration study

A group of more than 80 House and Senate Republicans have sent a letter to Director Cordray asking the CFPB to reopen its arbitration study. The CFPB released the final results of its empirical study of consumer arbitration...more

House appropriations amendment would create new requirements for CFPB arbitration rule

According to a Politico report, the House Appropriations Committee has approved an amendment to the FY 2016 Financial Services Appropriations bill that would impose new requirements on the CFPB before it can issue a rule...more

Still Threatened: Arbitration Clauses in Securities Customer Agreements

In a report to Congress released in March, the Consumer Financial Protection Bureau (CFPB) takes aim at consumer agreements that require disputes to be resolved by arbitration. The CFPB generally does not have...more

CFPB Report Likely Precursor to Regulatory Limits on Mandatory Arbitration Provisions

The Consumer Financial Protection Bureau (CFPB) released a study in March 2015 criticizing the use of mandatory, pre-dispute arbitration agreements in financial contracts with consumers. As expected, the CFPB found...more

A Modest Proposal: Change the Name of Arbitration

Arbitration has a brand recognition problem. Not enough people know what it is. The recent CFPB report summarized studies showing that even among consumers who know they have an arbitration clause, the majority do not...more

Alabama Supreme Court Reverses Arbitration Award Where Arbiter Failed To Make Required Disclosures

In a case involving a dispute between a not-for-profit corporation administering a self-insured group workers’ compensation fund and their investment advisor and broker-dealer, the Supreme Court of Alabama granted the fund’s...more

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Tennessee Supremes Reject Per Se Unconscionability of Non-Mutual Arbitration Clauses

On June 5, the Tennessee Supreme Court rejected a per se rule of unconscionability for non-mutual arbitration clauses, holding them enforceable if not too-one-sided and commercially reasonable under the...more

Financial Services Report, Summer 2015

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

With Rule-Making Expected, CFPB’s March 2015 Arbitration Study Continues to Draw Attention

In a recent letter, 58 members of Congress asked the Consumer Financial Protection Bureau (CFPB) to exercise its rule-making authority and ban mandatory arbitration provisions in consumer financial agreements. In support of...more

Seventh Circuit Rejects Challenge To Arbitration Award Based On “Manifest Disregard Of The Law” And Fraud

This case involved a FINRA arbitration held to resolve a dispute over money allegedly owed to Ameriprise Financial Services by a former financial adviser. The financial adviser appealed the district court’s confirmation of...more

Ninth Circuit Directs Court To Vacate Ruling That Disqualified Arbitrator In The Midst Of An Ongoing Arbitration

The dispute at issue in this case involved claims of fraud in the sale of condominium units asserted by unit purchasers against the condominium developer. Arbitration under the AAA was underway between the parties, when it...more

Trade groups urge CFPB to solicit public comments on arbitration study

Five leading financial services industry trade groups have sent a letter to the CFPB urging it to solicit public comments on the final results of its arbitration study before deciding whether to initiate a rulemaking...more

434 Results
|
View per page
Page: of 18

Follow Finance & Banking Updates on:

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×