News & Analysis as of

Arbitration Banking Sector

Arbitration is a widely-used method for settling disputes between parties. During arbitration, parties submit their dispute to an impartial third person or party, usually chosen by the parties. Typically, parties... more +
Arbitration is a widely-used method for settling disputes between parties. During arbitration, parties submit their dispute to an impartial third person or party, usually chosen by the parties. Typically, parties to arbitration agree in advance to be bound by the arbitrator's decision. Arbitration is an alternative to litigation, but it shares many of the familiar features of litigation. Namely, parties to arbitration hold hearings before neutral decision-makers, present evidence and argue the merits of their position. Parties often choose arbitration due to its perceived advantages over litigation. Those perceived advantages include greater efficiency and flexibility, and lower costs. less -
A&O Shearman

Arbitration clause triumphs over Russian court proceedings

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In the latest anti-suit case relating to Russia, the English High Court has made permanent an anti-suit injunction (ASI) and anti-enforcement injunction (AEI) preventing a Russian bank from pursuing litigation in Russia in...more

Carlton Fields

Third Circuit Reverses Order Denying Motion to Compel Arbitration, Holds Arbitration Clause in Consumer Financing Agreement Is...

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In Mancuso v. MDG USA Inc., the Third Circuit Court of Appeals considered defendant MDG’s appeal of an order denying its motion to compel arbitration of the plaintiff’s lawsuit alleging violations of state and federal fair...more

A&O Shearman

Navigating the challenges in arbitrating competition law issues

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Once considered non-arbitrable, competition law disputes between private parties are increasingly being resolved by arbitration. Even where competition law issues are not at the heart of the dispute, parties are becoming...more

Holland & Knight LLP

Mandatory Arbitration and Class Action Waivers by Amendment: Easier Said Than Done

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In response in part to the dozens of cases filed throughout the country related to assessment of insufficient funds (NSF) and overdraft (OD) fees, many banks and credit unions have sought to add arbitration and class action...more

Spilman Thomas & Battle, PLLC

Plaintiffs Pursuing Increased Class Action Claims for Overdraft Fees and Charges Against Customers

With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased regulatory scrutiny, banks need to review their overdraft practices. As noted by the American Bankers Association, banks...more

Bradley Arant Boult Cummings LLP

Subpoena Responses for Financial Institutions

Financial services companies, such as banks, credit unions, lenders, finance companies, loan servicers, broker-dealers, and securities firms, often receive subpoenas from parties in litigation involving their customers,...more

Morrison & Foerster LLP

Financial Services Report - Summer 2021

As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Morrison & Foerster LLP

Financial Services Report – Winter 2020

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Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more

Carlton Fields

Third Circuit Upholds Pennsylvania Federal Court’s Finding That an Arbitration Agreement Is Unenforceable Where It Limits...

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In Williams v. Medley Opportunity Fund II, LP, plaintiffs Christine Williams and Michael Stermel obtained payday loans from American Web Loan, Inc. (AWL), an online entity owned by the Otoe-Missouria Tribe of Indians. The...more

A&O Shearman

Important Arbitration Decision for Lenders

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Project Finance Lender Can Claim Directly Against State Under Investment Treaty - A recent decision of an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes...more

Holland & Knight LLP

Project Finance Protected as Foreign Investment in Investor-State Arbitration in Mexico

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A decision rendered on Aug. 20, 2020, by an investor-state dispute settlement (ISDS) tribunal in the Portigon AG v. Kingdom of Spain arbitration (ICSID Case No. ARB/17/15) is welcome news for investment funds and banks active...more

Carlton Fields

Third Circuit Concludes Arbitration Agreement Is Unenforceable Under the Prospective Waiver Doctrine

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The Third Circuit Court of Appeals has refused to enforce an arbitration agreement because it impermissibly limited claims to those available under tribal law at the expense of federal statutory claims. The court also...more

Manatt, Phelps & Phillips, LLP

Bank (Finally) Gets Plaintiffs’ Claims Sent to Individual Arbitration

A major national bank won a motion to dismiss in a multidistrict litigation challenging its overdraft fee practices, sending the individual plaintiffs’ disputes to arbitration pursuant to customer account or deposit...more

McGuireWoods LLP

Banking and Finance Disputes Drive Record International Arbitration Caseloads

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A year ago, McGuireWoods reported on a surge of international arbitration caseloads in the major international arbitration administrating institutes due to increasing banking, finance and energy disputes. The caseload stream...more

Goodwin

Financial Services Weekly News - February 2019 #3

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Editor's Note - Good News, Bad News. Key developments in federal securities laws have recently brought both good news and bad news for current and prospective public companies. First, the Securities and Exchange Commission...more

Carlton Fields

Federal District Court Declines to Rule on Arbitration Award, Finding No Independent Basis for Jurisdiction

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Following arbitration, the parties filed cross-motions to confirm and vacate the arbitration award. The District Court for the Southern District of California issued an order to show cause why the case should not be dismissed...more

Patterson Belknap Webb & Tyler LLP

Venezuela Debt Update: Recent Developments in Arbitrations that Could Impact Restructuring Efforts

It’s hard to find something positive these days to write about Venezuela. Some basic facts tell the story of the misery there. Consumer prices this year might rise one million percent. The minimum wage was increased by...more

Carlton Fields

Ninth Circuit Finds Foreign Bank Did Not Waive Personal Jurisdiction By Litigating Other Defenses And Counterclaims In A Related...

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The Ninth Circuit recently reversed a California District Court’s finding of personal jurisdiction against a foreign bank, and found it did not waive appeal on that issue by asserting defenses....more

Holland & Knight LLP

What President Andrés Manuel López Obrador's Election Means to Business in Mexico - An Outlook for Several Key Sectors, Including...

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• Mexico recently voted for a new president, Andrés Manuel López Obrador, in the biggest – and likely the most important – election in the country's history, electing the first left-wing candidate in Mexico. • While it is...more

Carlton Fields

The Eleventh Circuit Found No Waiver Of Right To Compel Arbitration Against Unnamed Class Members

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In sum, the case involves five consolidated class actions brought in Florida federal court against banks by bank customers in 2008 and 2009 alleging that they were unlawfully charged overdraft fees....more

Morrison & Foerster LLP

Financial Services Report – Summer 2018

BELTWAY - The Wayback Machine - Congress passed, and on May 24, 2018, the president signed into law, the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155). The law makes significant changes to...more

Carlton Fields

Cryptocurrency Theft Class Not Estopped From Avoiding Enforcement Of Arbitration Clause Under Either California Or Florida Law

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The Eleventh Circuit recently affirmed the denial of a motion to compel arbitration based on equitable estoppel in a putative class action by victims of a cryptocurrency exchange website (Cryptsy) CEO’s theft of money derived...more

Polsinelli

Waiver Redux: Appeals Court Confirms That Arbitration of Unnamed Class Member Claims Not Waived Following Certification Decision

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The Eleventh Circuit Court of Appeals recently held that a litigant may enforce its contractual arbitration provision as to absent class members despite not obtaining a ruling on the issue at the outset of the case. The right...more

Carlton Fields

Minor Not Bound—Directly Or Indirectly—By Arbitration Agreement In Mother’s Credit Card Agreement

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Last month the Seventh Circuit reversed a lower court order enforcing an arbitration agreement contained in cardholder agreement as applied against the minor daughter (“A.D.”) of the cardholder, rejecting the bank’s attempt...more

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