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Class Action Arbitration Waivers Automotive Loans

Stinson LLP

Missouri Supreme Court Holds Consumer Arbitration Agreements Enforceable

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On Tuesday, July 12, 2022, the Missouri Supreme Court issued a unanimous opinion in Bridgecrest Acceptance Corporation v. Kelly Donaldson and Robert Haulcy, No. SC99269 and Bridgecrest Acceptance Corporation v. Christopher...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Facebook may have had a difficult day on the Hill. But a 79% rise in Q3 profit—driven, ironically enough, by online ads—should help soften the blow....more

Burr & Forman

Fall 2017 Consumer Financial Protection Bureau Update

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The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

Congressman Hensarling’s Dodd-Frank replacement bill to include CFPB reforms

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Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee Chairman, released a summary of a bill to replace the Dodd-Frank Act.  The bill is entitled “The Financial CHOICE Act,” with “CHOICE”...more

Carlton Fields

Fourth Circuit Considers Whether Arbitration Agreement Was Binding Where Parties Modified Contract Through Conduct

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In early April, the Fourth Circuit Court of Appeals considered whether an arbitration agreement was “a written provision” for purposes of the Federal Arbitration Act where the parties modified the contract through their...more

Ballard Spahr LLP

Director Cordray appears before House Financial Services Committee

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Director Cordray was the sole witness at the hearing held yesterday by the House Financial Services Committee, which was entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” In November 2015, the...more

Burr & Forman

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Holland & Knight LLP

CFPB Proposes Limits on Companies' Use of Arbitration Clauses

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The Consumer Financial Protection Bureau (CFPB) has proposed new rules that would ban companies' use of arbitration clauses that prevent consumer class action lawsuits. The potential new rules, announced this month, would...more

Moore & Van Allen PLLC

CFPB Singles Out Class Action Waivers for Elimination from Consumer Financial Arbitration Agreements

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The Consumer Financial Protection Bureau (“CFPB”) made clear this week that, in its view, class action waivers should be on the chopping block in the agency’s upcoming rulemaking aimed at regulating the use of arbitration...more

BakerHostetler

CFPB Taking Steps to Ban Class Action Waivers

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On October 7, the CFPB announced at a field hearing in Denver, Colorado, that it plans to propose rules via its rule-making authority that would prohibit financial services companies from including class action waivers in...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

Balch & Bingham LLP

CFPB Proposal Could Open the Door for Class Action Litigation

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On October 7, 2015, the Consumer Financial Protection Bureau (“CFPB”) proposed a rule that would severely limit the use of arbitration clauses in many consumer financial agreements and likely increase class action litigation...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

Carlton Fields

California Supreme Court Upholds Consumer Contract Arbitration Provision Under California’s Unconscionability Framework

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In a dispute over the purchase of a car, the purchaser filed a class action in California against the car dealer, and the dealer moved to compel arbitration. The dealer invoked the arbitration agreement contained in the...more

BakerHostetler

CA Supreme Court Upholds Class Action Waivers in Long-awaited Sanchez Decision

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On August 3, 2015, the California Supreme Court issued its long-awaited decision in Sanchez. v. Valencia Holding Company, LLC (2015) — Cal.4th — (Sanchez). The court provided much-needed clarity for consumers and auto finance...more

Sheppard Mullin Richter & Hampton LLP

Court Severs Term But Otherwise Enforces Arbitration Provision With A Class Action Waiver

In a victory for Sheppard Mullin and its client, in Trabert v. Consumer Portfolio Serv., Inc., __ Cal. App. 4th. __, 2015 WL 880949 (4th Dist. Mar. 3, 2015), the California Court of Appeal compelled arbitration and enforced a...more

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