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Mandatory Arbitration Clauses Payday Loans

Goodwin

Fourth Circuit Again Rejects Arbitration Request Under Payday Loan Agreement

Goodwin on

On May 10, 2017, the Fourth Circuit affirmed the Middle District of North Carolina’s refusal to compel arbitration under the terms of a payday loan agreement. In Dillon v. BMO Harris Bank, N.A., BMO Harris attempted to compel...more

Carlton Fields

Second Circuit Upholds Refusal To Compel Arbitration Due To Unavailable Forum, Recognizing Split In Federal Circuits

Carlton Fields on

A borrower had previously entered into three payday loan agreements that contained arbitration provisions mandating that all claims be arbitrated in the National Arbitration Forum (NAF), and under the Code of Procedure of the...more

Goodwin

Eleventh Circuit Invalidates Another Western Sky Arbitration Clause

Goodwin on

On August 29, 2016, the Eleventh Circuit upheld a Northern District of Georgia decision invalidating an arbitration clause in Jessica Parm v. National Bank of California, N.A. (Docket No. 15-12509). Defendant National Bank...more

Ballard Spahr LLP

CFPB Releases Spring 2016 Rulemaking Agenda

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

Ballard Spahr LLP

CFPB releases Spring 2016 rulemaking agenda

Ballard Spahr LLP on

The CFPB has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not reflect the CFPB’s release of its proposed...more

Carlton Fields

Eleventh Circuit Upholds Refusal To Compel Arbitration Due To Unavailable Forum

Carlton Fields on

A borrower had previously entered into a pay day loan agreement in August of 2012, which contained an arbitration provision mandating that all claims be arbitrated in the National Arbitration Forum (NAF), and under the Code...more

Clark Hill PLC

Payday Lending, Exemption for Community Banks, Arbitration and Ally Were the Hot Topics During CFPB Director Cordray's Testimony...

Clark Hill PLC on

There was no shortage of emotionally charged rhetoric and pointed accusations during yesterday's testimony of the Consumer Financial Protection Bureau's (CFPB or "Bureau") Director, Richard Cordray, before the House Financial...more

Baker Donelson

Flaws and All, CFPB's Arbitration Study Sparks Vigorous Debate over Next Steps in Regulating Mandatory Arbitration Clauses

Baker Donelson on

As expected, the reaction to the Consumer Financial Protection Bureau's (CFPB) arbitration study report, released in March 2015, has been vociferous. All sides of this important debate are loudly proclaiming that their...more

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