News & Analysis as of

Mandatory Arbitration Clauses Dodd-Frank Wall Street Reform and Consumer Protection Act

Ballard Spahr LLP

Consumer Advocates Petition CFPB to Undertake Rulemaking to Prohibit “Pre-dispute” Consumer Arbitration Clauses

Ballard Spahr LLP on

Earlier last week, a group of consumer advocate organizations filed a Petition for Rulemaking with the CFPB that would prohibit the use of pre-dispute arbitration clauses in consumer contracts in favor of arbitration clauses...more

Rosenberg Martin Greenberg LLP

Fourth Circuit Takes Pendent Jurisdiction Over Appeal of Trial Court Order to Compel Arbitration Despite A Seeming Prohibition in...

The Federal Arbitration Act establishes a federal policy in favor of arbitration agreements and provides for enforcement in federal court of many agreements to arbitrate. 9 USC §§ 1, 4. Section 16(b) of the Arbitration Act...more

Proskauer - Whistleblower Defense

Second Circuit Holds Dodd-Frank Whistleblower Retaliation Claims are Arbitrable

On September 19, 2019, the Second Circuit affirmed a New York District Court’s order compelling arbitration of a whistleblower retaliation claim under the Dodd-Frank Act.  Daly v. Citigroup Inc., et al., No. 18-665....more

Proskauer - Minding Your Business

New CFPB Arbitration Rule Already Under Attack

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued a new rule that would make it easier for consumers to bring class action lawsuits against financial institutions. The new rule bans financial...more

Kelley Drye & Warren LLP

CFPB Issues Final Rule Prohibiting Mandatory Pre-Dispute Arbitration Agreements for Covered Consumer Financial Products and...

The Federal Register published today the Consumer Financial Protection Bureau's (CFPB) final rule that was announced last week and would prohibit providers of covered consumer financial products and services from using...more

Balch & Bingham LLP

Are Existing Agreements Governed by the New CFPB Arbitration Rule?

Balch & Bingham LLP on

The Dodd Frank Act expressly provided that any CFPB rule on arbitration would not apply to existing contracts. 12 U.S.C. § 5518(d). Therefore, the CFPB rule released last week will only bar class action waivers for...more

Proskauer - Whistleblower Defense

Federal Court Compels Arbitration of Dodd-Frank Whistleblower Claim

In a recent decision, the U.S. District Court for the Western District of Wisconsin held that Dodd-Frank whistleblower claims (Section 922 claims) are subject to mandatory arbitration. Wussow v. Bruker Corp., No....more

Vedder Price

Another Day, Another Regulation: A Summary and Description of the CFPB’s Arbitration Rule

Vedder Price on

On July 10, 2017, the Consumer Financial Protection Bureau (the “CFPB”) finalized its proposed arbitration rule that will prohibit providers of certain consumer financial products and services from requiring a consumer to...more

King & Spalding

CFPB Issues Final Rule Banning Class Action Waivers in Consumer Finance Contracts

King & Spalding on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced a final Rule banning the use of class action waivers in a broad range of consumer finance agreements. The Rule, which was expected in light of prior...more

Carlton Fields

NAIC Draws Line In CFPB Sand Box

Carlton Fields on

The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban of “mandatory arbitration” clauses that make financial product consumers waive their right...more

Carlton Fields

NAIC Draws Line in CFPB Sandbox

Carlton Fields on

The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban on "mandatory arbitration" clauses that make financial product consumers waive their right...more

Littler

With the Election (Mercifully) Behind Us, What Will a Trump Administration Mean for Employers?

Littler on

The 2016 Presidential election was arguably the most contentious, unpredictable, and politically polarizing race in this nation's history. The contours of the electoral map changed by the hour in the days leading up to...more

Carlton Fields

CFPB Grabs for SEC/CFTC Turf

Carlton Fields on

In May, the Consumer Financial Protection Bureau (CFPB) proposed a ban on “mandatory arbitration” contract clauses that make financial products consumers waive their right to join class actions. Broker-dealers,...more

Bilzin Sumberg

CFPB and Banks Battle Over Arbitration Clauses, Class Actions

Bilzin Sumberg on

After the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 authorized its creation, the Consumer Financial Protection Bureau (CFPB) began operating on July 21, 2011. In the more than five years since it...more

Ballard Spahr LLP

Trade groups comment on CFPB arbitration proposal

Ballard Spahr LLP on

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable (Associations) have filed a joint letter commenting on the CFPB’s proposed rule regulating consumer arbitration...more

Ballard Spahr LLP

House defeats amendment to 2017 appropriations bill striking requirements for CFPB arbitration rule

Ballard Spahr LLP on

By a vote of 236-181, the House of Representatives rejected an amendment offered by two Democratic Congressman to H.R. 5485, the Financial Services and General Government Appropriations Act, which covers appropriations for...more

Poyner Spruill LLP

CFPB Proposals Would Restrict Use of Arbitration Clauses in Consumer Financial Services Contracts

Poyner Spruill LLP on

In May 2016, the federal Consumer Financial Protection Bureau (CFPB) proposed, and requested public comments on, a new rule intended to limit the use of mandatory pre-dispute arbitration clauses in agreements governing a wide...more

Stinson - Corporate & Securities Law Blog

Top 5 Things the Financial Industry Needs to do in Response to the CFPB’s Proposed Arbitration Rule

On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long awaited and highly controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class...more

Carlton Fields

CFPB’s Proposed Rule Banning Use of Pre-Dispute Arbitration Agreements to Block Consumer Class Actions Signals New Wave of Class...

Carlton Fields on

On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

Ballard Spahr LLP

ABA to sponsor July 20 program on CFPB arbitration proposal

Ballard Spahr LLP on

On July 20, 2016, from 11:00 AM – 12:00 PM ET, the American Bar Association is sponsoring a program, “CFPB’s Proposed Arbitration Ban — What You Need To Know.” The panelists will discuss the pros and cons of the CFPB’s...more

Burr & Forman

The Best Defense is a Good Strategy: Planning for the Arbitration Rule

Burr & Forman on

On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) held its fourth field hearing on Arbitration and issued a proposed Rule that would prohibit the use of arbitration clauses that block consumers’ participation...more

Ballard Spahr LLP

CFPB Releases Spring 2016 Rulemaking Agenda

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

Ballard Spahr LLP

Comment period on CFPB proposed arbitration rule ends August 22

Ballard Spahr LLP on

With the publication of the CFPB’s proposed arbitration rule in today’s Federal Register, the 90-day comment period is now running.  Comments on the proposal must be received on or before Monday, August 22, 2016....more

Ballard Spahr LLP

CFPB releases Spring 2016 rulemaking agenda

Ballard Spahr LLP on

The CFPB has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not reflect the CFPB’s release of its proposed...more

Ballard Spahr LLP

High Praise for WSJ Editorial, with a Small Caveat

Ballard Spahr LLP on

A recent editorial in the Wall Street Journal is a “must read” for those who will be affected if the CFPB’s May 5, 2016 proposed rule banning class action waivers in consumer financial services arbitration agreements becomes...more

48 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide