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Arbitration Agreements Loans

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

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

Carlton Fields

New York Federal Court Finds Vacatur of Arbitration Award Not Warranted

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Michael Miller (“Miller”) filed a petition to vacate an arbitration award against UBS Financial Services Inc. and UBS Credit Corp. (collectively “UBS”) claiming that “the award is unsound because two of the three arbitrators...more

Polsinelli

State High Court Decision Highlights National Split of Authority and Offers Lessons for Those Who Rely on Arbitration

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The Missouri Supreme Court recently upheld a refusal to compel parties to arbitrate their dispute before a different forum when the one listed in their agreement could not accept the case. ...more

Orrick, Herrington & Sutcliffe LLP

Class Action Against Lending Club and WebBank Headed to Defeat

On Monday, a federal district court in the Southern District of New York granted a motion to compel arbitration in Bethune v. Lending Club Corporation, et al., a closely watched putative class action raising important issues...more

Carlton Fields

Fourth Circuit Refuses To Vacate FINRA Arbitration Award, Despite Party’s Claim That It Had No Opportunity To Participate In...

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UBS Financial Services’ motion to vacate a FINRA arbitration award was denied, despite its claims that the panel was improperly chosen and that the panels damages award was flawed in that it did not impose an offset. UBS...more

Ballard Spahr LLP

Dept. of Ed. Bans Pre-Dispute Arbitration Agreements by Title IV Schools

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The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more

Baker Donelson

CFPB Eyes Consumer Arbitration Clauses

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It has only been 24 hours since the Consumer Financial Protection Bureau (CFPB) announced its plans to propose rules limiting the use of arbitration clauses, but the financial services industry is already gearing up to...more

Stinson LLP

CFPB Takes Aim at Class Action Waivers in Arbitration

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On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is considering proposing rules that would prohibit companies from including in consumer contracts arbitration clauses that prevent...more

Ballard Spahr LLP

CFPB schedules October 7 field hearing on arbitration; Alan Kaplinsky to represent industry

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The CFPB has announced that it will hold a field hearing about arbitration in Denver, Colorado on October 7, 2015 and has asked Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, to...more

Carlton Fields

Fourth Circuit Rejects Characterization Of Motions “For Reconsideration,” Remands To Determine Whether Dispute Is Arbitrable

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The Court of Appeals for the Fourth Circuit recently remanded a case to the district court for full consideration of a request to compel arbitration, finding the lower court’s order “inconsistent with the emphatic federal...more

Dechert LLP

Appellate Court Confirms the Validity of Asymmetric Dispute Resolution Clauses

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Dechert lawyers representing a major international bank in court proceedings in a number of regions in southern Russia with respect to claims to recover a total of about US$300 million in loan funds from the guarantors of a...more

Spilman Thomas & Battle, PLLC

In Case You Missed It - Three Cases Impact W.Va. Consumer Finance Law

Confirmation of the W.Va. Attorney General's Authority to Hire Private Counsel on Behalf of the State - For more than a decade, the circuit courts in West Virginia have wrestled with the issue of whether the State...more

Carlton Fields

Arbitration Clause Of A Loan Agreement Containing A Class Action Waiver Was Not Void As Being In Violation Of Public Policy

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In Baldwin v. Regions Financial Corp., 98 So. 3d 1201 (Fla. 3d DCA 2012), the District Court of Appeal of the Third District of Florida held that an arbitration clause of a loan agreement, containing a class action waiver,...more

Saul Ewing Arnstein & Lehr LLP

CFPB issues final rules on incentives and mandatory arbitration

The CFPB issued final rules reducing the financial incentives for loan officers and brokers in "risky and high-cost" consumer loans and toughening qualification standards for loan originators....more

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