American Express

News & Analysis as of

CFPB Releases Proposed Prepaid Product Rule

Why it matters - The Consumer Financial Protection Bureau (CFPB) released a proposed rule that Director Richard Cordray said would “fill key gaps” for consumers regarding prepaid products. The 870-page proposal would...more

CFPB announces pilot to promote consumer savings

As part of its Project Catalyst, the CFPB’s initiative for facilitating innovation in consumer-friendly financial products and services, the CFPB has announced a new research pilot using insights from behavioral economics and...more

PCI-DSS 3.0's Focus on the Data Security Practices of Service Providers

Preventing the unauthorized access to and fraudulent use of credit and debit cards has been a high priority of the payment card industry for years. As the threat environment evolves, so too do the applicable data security...more

Celebrating Women's Small Business Month

Women now more than ever are turning to entrepreneurship to take charge of their own career trajectory. According to American Express OPEN’s 2014 State of Women-Owned Businesses Report, it is estimated that there are nearly...more

American Express: Key Insights as Trial Ends

The long trial in United States v. American Express has come to an end: on September 18, 2014, the parties exchanged post-trial briefing and on October 9, 2014, the court held oral argument. News reports suggest that the...more

Is a FLSA Collective Action Waiver by Itself in a Severance Agreement Enforceable? Sixth Circuit Says “No.”

Employers have recently enjoyed some victories in the U.S. Supreme Court and in the California Supreme Court regarding the use of class/collective action waivers in employment arbitration agreements (e.g. Italian Colors and...more

Financial Services Law - Feb 10, 2014

Swipe Fee Settlement Yields More Litigation - Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more

Orrick's Financial Industry Week in Review - January 6, 2014

CFTC Issues Time-Limited No-Action Letter Relating to Certain CDS Clearing-Related Swaps Executed Pursuant to a CDS Settlement Price Process - On December 31, CFTC issued a no-action letter providing time-limited...more

Recent Decisions Enforcing Arbitration Provisions

For banking executives and in-house counsel, arbitration can be a preferable alternative to litigation to avoid costly trials and home-town advantages. In this article, we highlight four recent court decisions that affect the...more

The Contract Is King: The U.S. Supreme Court’s Two Recent FAA Decisions

The U.S. Supreme Court addressed contract terms bearing on the availability of class arbitration in two opinions this term. The first, Oxford Health Plans LLC v. Sutter, confirms a district court’s limited power under the...more

High Arbitration Fees Prove Costly to Defendant

A recent decision by the Arizona Court of Appeals underscores the importance of keeping consumer arbitration agreements consumer friendly. In Clark v. Renaissance West, LLC, the court affirmed the trial court’s denial of a...more

A Welcome ‘Waive’ of Second Circuit Cases: Class Action Waivers Deemed Enforceable

For the better part of the last decade, the Second Circuit routinely and consistently struck down class action waivers in arbitration provisions....more

Second Circuit Holds That The Fair Labor Standards Act Does Not Bar The Enforcement of Class Action Waivers

Over the past week, the United States Court of Appeals for the Second Circuit (“Second Circuit”) has issued two decisions in which it affirmatively held that: (i) a plaintiff cannot use the “effective vindication doctrine” to...more

Employers Should Reassess Strategy in Light of New Rulings from the Supreme Court

The Supreme Court of the United States recently issued two landmark rulings affecting the viability of arbitration as an alternative to costly litigation....more

Massachusetts Supreme Judicial Court Bows to U.S. Supreme Court on Class Action Waivers in Arbitration Agreements

In an abrupt but not unexpected reversal, the Massachusetts Supreme Judicial Court (SJC) has been forced to change its position on class action waivers in arbitration agreements in light of a new decision by the U.S. Supreme...more

First State Court Decision Is Reversed Under SCOTUS’ Amex Ruling

Put this post in the “I called it” category - On June 12, the Massachusetts Supreme Judicial Court declared in Feeney that class arbitration waivers are invalid under Massachusetts law if plaintiffs cannot effectively...more

Massachusetts Supreme Court Enforces Class Action Arbitration Waiver

Eight days prior to the Supreme Court’s decision in American Express Co. v. Italian Colors Restaurant, 133 S.Ct. 2304 (2013) (“AMEX”) (which we blogged here), the Massachusetts Judicial Court held that the Federal Arbitration...more

Supreme Court’s Recent American Express Decision has Far Reaching Implications for Businesses Seeking to Avoid Being Sued in a...

Businesses often use arbitration agreements as a tool to lessen the burden and cost of future litigation. On June 20, 2013, the Supreme Court released its opinion in American Express Co. v. Italian Colors Restaurant, 570 U....more

Employment Law Commentary -- Volume 25, Issue 7 July 2013 -- Supreme Court Buttresses Class Action Waivers

In its recent decision in Am. Express Co. v. Italian Colors Rest., 133 S. Ct. 2304 (2013), the U.S. Supreme Court further buttressed the use of class-action waivers in arbitration agreements, finding such waivers enforceable...more

Fenwick Employment Brief - July 2013: Waiver of Class Action Remedy Enforced Even Though Anticipated Costs of Individual...

In American Express Company v. Italian Colors Restaurant, a non-employment case, the Supreme Court enforced a class action waiver in an American Express (“AMEX”) arbitration agreement despite a restaurant’s objection that the...more

U.S. Supreme Court alert: American Express Co. v. Italian Colors Restaurant

Prior to its summer recess, the U.S. Supreme Court issued another decision concerning class arbitration which has implications for unionized and non-unionized employers with agreements to arbitrate workplace disputes....more

Supreme Court's American Express Decision Impacts Businesses Seeking to Avoid Being Sued in a Class Action

Businesses often use arbitration agreements as a tool to lessen the burden and cost of future litigation. On June 20, 2013, the Supreme Court released its opinion in American Express Co. v. Italian Colors Restaurant, which...more

"Business Cases in the US Supreme Court"

The U.S. Supreme Court recently closed its 2012 term with its usual headline-grabbing flurry of June decisions. Several of those decisions, as well as many more that received less publicity, will affect business interests. In...more

California District Court Compels Arbitration of Class and Collective Wage and Hour Claims

Dorothy Gale famously remarked upon finding herself in Oz “Toto, I’ve got a feeling we’re not in Kansas anymore.” Class action wage and hour plaintiffs on the west coast are now awakening to the fact that while they may still...more

Did You Know…U.S. Supreme Court Strengthens Class Action Waivers In AmEx Ruling

In another employer-friendly decision, the U.S. Supreme Court reinforced its support for class action waivers, ruling in American Express Co. v. Italian Colors Restaurant that an explicit class action waiver in an arbitration...more

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