Yesterday, the Consumer Financial Protection Bureau (CFPB) announced at a field hearing in Albuquerque, New Mexico, that it is proposing regulations that would prohibit covered providers of certain consumer financial products...more
The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness has sent a letter to Director Cordray suggesting a series of issues for Mr. Cordray to address in his prepared remarks at the CFPB’s field hearing on...more
The CFPB has announced that it will hold a field hearing in Albuquerque, New Mexico about arbitration on May 5, 2016. We expect the field hearing to coincide with the release of the CFPB’s proposed rule on the use of...more
At a presentation on February 18, 2016 to the American Constitution Society, CFPB Director Richard Cordray devoted most of his remarks to the subject of consumer arbitration. Director Cordray revealed that the effect on...more
Resolving a split between the California Court of Appeal and the Ninth Circuit concerning the enforceability of the same DirectTV arbitration agreement, the U.S. Supreme Court ruled that the California Court of Appeal’s...more
An article on consumer arbitration in this week’s Sunday New York Times concludes that “[b]y inserting individual arbitration clauses into a soaring number of consumer and employment contracts, companies… devised a way to...more
11/3/2015
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Banks ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Arbitration Act ,
Financial Institutions ,
New York Times
The CFPB has now taken two more significant steps towards issuing a proposed arbitration rule. On October 20, 2015, the CFPB convened its Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to review the...more
In his remarks today to the CFPB’s Consumer Advisory Board, Director Cordray denigrated arbitration agreements as a “free pass” that allows companies to “sidestep the legal system, avoid big refunds, and continue to pursue...more
In a blog post earlier this week, Professor Jeff Sovern took issue with statements made by a legal expert that suggest an amendment to the Federal Arbitration Act would be necessary for the CFPB to ban class action waivers in...more
Today, the CFPB announced at a field hearing in Denver, Colorado that it is considering proposing rules that would prohibit consumer financial services companies from using class action waivers in consumer arbitration...more
The Consumer Financial Protection Bureau (CFPB) is considering proposing rules that would prohibit consumer financial services companies from using class action waivers in consumer arbitration clauses, the CFPB announced...more
10/8/2015
/ Arbitration Agreements ,
AT&T Mobility v Concepcion ,
Class Action ,
Class Action Arbitration Waivers ,
Class Certification ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Mandatory Arbitration Clauses ,
SCOTUS ,
Small Business
The U.S. Supreme Court recently denied a petition for certiorari that challenged a California Supreme Court decision carving out an exception to the federal high court’s recent holdings in AT&T Mobility LLC v. Concepcion and...more
2/11/2015
/ American Express v Italian Colors Restaurant ,
Arbitration ,
AT&T Mobility v Concepcion ,
Class Action ,
Class Action Arbitration Waivers ,
Federal Arbitration Act ,
Iskanian v CLS Transportation ,
Petition for Writ of Certiorari ,
Preemption ,
Private Attorneys General Act (PAGA) ,
SCOTUS
In Opalinski v. Robert Half International, Inc., the United States Court of Appeals for the Third Circuit held that where an arbitration clause is silent as to the availability of classwide arbitration, that issue should...more
Applying the Supreme Court’s recent decision in Oxford Health Plans v. Sutter, the 11th Circuit affirmed an arbitrator’s conclusion that the parties’ agreement permitted class-wide arbitration....more
The U.S. Supreme Court today delivered a knock-out punch to the last major court challenge to the use of class action waivers in consumer arbitration agreements....more
Addressing an important issue that the U.S. Supreme Court will decide in the next few weeks, the Supreme Judicial Court of Massachusetts has held that a court may invalidate an arbitration agreement that contains a class...more
Yesterday, we attended the highly anticipated oral argument before the U.S. Supreme Court in Italian Colors Restaurant v. American Express Travel Related Services Co. While no one can predict with certainty how the Court will...more
On January 30, the United States filed an amicus brief in the U.S. Supreme Court supporting the Respondents in American Express Company v. Italian Colors Restaurant, No. 12-133, an extremely important case involving the...more