In This Issue:
Arbitration Report; Bureau Report; Privacy Report; Mortgage Report; Operations Report; Preemption Report; and Beltway Report.
Excerpt from Arbitration Report:
Ninth Circuit Punts -
In Kilgore v. Keybank, N.A., the Ninth Circuit was poised to decide whether the Supreme Court’s Concepcion decision vitiates California’s “public” injunction exemption from arbitration. Under that exemption, California courts have held that the federal policy in favor of arbitration under the FAA inherently conflicts with statutes, such as California’s unfair competition law, that authorize “public” injunctive relief. The en banc court did not reach the issue, ruling instead that plaintiffs sought relief solely for their own benefit so the exemption did not apply. Kilgore v. Keybank, N.A., Nos. 09-16703, 10-15934, 2013 U.S. App. LEXIS 7312 (9th Cir. Apr. 11, 2013). The court held plaintiffs were required to arbitrate their claims against the originating bank and loan servicer of the student loans they challenged.
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