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Contract Terms › Credit Unions › Arbitration

Ballard Spahr LLP

Is the ‘Clarified’ AAA Clause Registration Rule Clear Enough?

Ballard Spahr LLP on

Effective May 1, 2025, the American Arbitration Association (“AAA”) amended its Consumer Arbitration Rules, including Rule 12 dealing with the registration of consumer arbitration clauses. The AAA stated that its goal was to...more

Parker Poe Adams & Bernstein LLP

NC Supreme Court: Credit Union Can Unilaterally Add Arbitration Provision and Class Action Waiver to Agreements

Parker Poe Adams & Bernstein LLP on

The North Carolina Supreme Court on Thursday, May 23 held that a credit union’s unilateral update to add an arbitration provision and class action waiver to its contract with one of its customers was valid under North...more

Holland & Knight LLP

Mandatory Arbitration and Class Action Waivers by Amendment: Easier Said Than Done

Holland & Knight LLP on

In response in part to the dozens of cases filed throughout the country related to assessment of insufficient funds (NSF) and overdraft (OD) fees, many banks and credit unions have sought to add arbitration and class action...more

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