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Presentation Matters When Seeking to Compel Arbitration in Consumer Class Actions

A pair of recent opinions proves that when it comes to compelling arbitration in a consumer class action, presentation of the arbitration clause may matter more than favorable Supreme Court precedent. First, in Norcia v....more

'Fiduciary Rule' Update: Financial Services Industry Should Prepare for Compliance

The U.S. Department of Labor (DOL) scored an initial victory in what is sure to be a long legal battle over the so-called "fiduciary rule." Judge Randolph D. Moss of the U.S. District Court for the District of Columbia issued...more

Recent Supreme Court Action Creates Uncertainty in Financial Industry

On June 27, 2016, the U.S. Supreme Court declined to review a Second Circuit Court of Appeals decision in the case of Madden v. Midland Funding, LLC. The High Court’s decision will allow a consumer class action against...more

High Court Spokeo Ruling on Standing Avoids Nixing No Injury Class Actions

On May 16, 2016, the United States Supreme Court released its long-awaited opinion in Spokeo, Inc. v. Robins. In a 6–2 decision, the Court remanded the case to the Ninth Circuit for further analysis of the plaintiff's...more

SEC Finally Approves FINRA’s Watered-Down Recruitment Broker Bonus Disclosure Rule

Lost in the commotion surrounding the Department of Labor's new fiduciary rule was the Securities and Exchange Commission's approval of FINRA's recruitment bonus disclosure rule, which requires action by broker dealers when...more

Much-Anticipated Fiduciary Rule Presents New Challenges to Financial Services Industry

The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more

7th Circuit Decision Offers Valuable Lessons on Enforceability of Arbitration Clauses in E-Commerce

On March 25, the Seventh Circuit Court of Appeals issued a decision in Sgouros v. TransUnion Corp. in which the appeals court rejected TransUnion's effort to compel arbitration of a putative class action. The appeals court...more

Two Major Implications for Consumer Finance Industry from This Month’s Proposed CFPB Rules

When the Consumer Finance Protection Bureau (CFPB) released its study on the use of pre-dispute arbitration (PDA) clauses earlier this year, many expected the CFPB to propose a ban on all PDAs in contracts for consumer...more

Beware the Boilerplate: Request for Attorneys' Fees in Arbitration Can Haunt You Later

The general rule in litigation is that each side pays its own legal fees, regardless of who wins. There is no fee shifting. Exceptions to that general rule primarily exist in the form of contractual arrangements or statutes...more

Colorado Supreme Court Restricts Use of "Lone Pine" Discovery Orders

On April 20, 2015, the Colorado Supreme Court released an important decision restricting the use of so-called "Lone Pine" orders. See Antero Resources Corp. v. Strudley. Lone Pine orders require plaintiffs in toxic tort cases...more

CFPB Goes Public and Steps Up Enforcement Activity

The Consumer Financial Protection Bureau (CFPB) recently announced what may be its boldest move yet: a $63 million enforcement action in coordination with the Federal Trade Commission (FTC) against Minnesota-based mortgage...more

DOL Releases Controversial Proposal, Signifying Regulatory Intent to Expand Fiduciary Standard

On April 14, 2015, the U.S. Department of Labor ("DOL") released a controversial proposal that would require financial advisors to put their clients' interests ahead of their own when recommending retirement investments....more

CFPB Casts Doubt on Pre-dispute Consumer Arbitration Clauses

Earlier this month, the Consumer Financial Protection Bureau (CFPB), a bureau of the Federal Trade Commission, released its Arbitration Study Report to Congress. The report suggests that pre-dispute arbitration clauses and...more

Lance Armstrong Becomes Cautionary Tale on Risks of Arbitration

Arbitration is sometimes touted as less expensive and less risky for businesses than traditional courtroom litigation, especially when it comes to consumer disputes. But disgraced cyclist Lance Armstrong's most recent legal...more

2/25/2015  /  Arbitration , Lance Armstrong

Beneficiaries Lack Standing to Challenge Trustee's Actions in Bankruptcy Court

In a recent ruling on In re Land Securities Investors, Ltd., the United States Bankruptcy Court for the District of Colorado ruled that trust beneficiaries do not have standing to appear in a bankruptcy case even when the...more

Recovery of Attorneys' Fees in Arbitration: A Trap For the Unwary

The so-called “American Rule” generally requires each party to a lawsuit to bear its own costs and attorneys’ fees in the absence of a statute or contract to the contrary. Likewise, there is no inherent power or implied...more

Delaware Program Struck Down: Independent Legal Counsel Still Best Avenue for Private Arbitration

The U.S. Supreme Court decided last Monday to not hear a case involving the State of Delaware's effort to create a state-sponsored program where sitting judges could confidentially arbitrate business disputes. Lower courts...more

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