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CFPB bans private dispute resolution platform Ejudicate from arbitrating consumer financial product disputes

The CFPB has banned private dispute resolution platform Ejudicate from arbitrating disputes about consumer financial products, saying that the company had misled student borrowers about the company’s neutrality and initiated...more

Cookie Cutter Declarations Will Not Prop Up Mass Arbitrations

On July 8, we published a blog about a landmark 7th Circuit opinion involving mass arbitration: Pauline Wallrich v. Samsung Electronics America, Incorporated. In that opinion, the Court dismissed a lawsuit against Samsung...more

Seventh Circuit Slams the Brakes on Consumer Mass Arbitration against Samsung

We previously wrote about an Illinois federal district court order requiring Samsung to pay about $4 million in arbitration fees in connection with 35,000 individual arbitration demands filed as part of a “mass arbitration”...more

Consumer Finance Monitor Podcast Episode: A Discussion of Industry and Consumer Perspectives on Mass Arbitration [Video]

Our special guest is Professor Richard Frankel of Drexel University Thomas R. Kline School of Law and the author of a recent article on mass arbitration. In this episode, we first discuss what mass arbitration is, how it...more

Ninth Circuit: Arbitration clause prevails in “true lender” challenge against OppFi

In a recent unpublished memorandum opinion in a putative class action, Carpenter et al. v. Opportunity Financial, LLC, the U.S. Court of Appeals for the Ninth Circuit upheld an arbitration clause in an agreement governing...more

Lawmakers and AFSA oppose future arbitration rulemaking

In connection with the petition to ban pre-dispute consumer arbitration agreements pending before the Consumer Financial Protection Bureau (CFPB) and a recent Senate Judiciary Committee hearing on “forced arbitration,”...more

Consumer Finance Monitor Podcast Episode: A Look at a New Approach to Consumer Contracts [Video]

Our special guest is Andrea Boyack, Professor, University of Missouri School of Law. We first discuss the principles that underlie our current system of consumer contracts and the system’s role in promoting transactional...more

442 Congress members did NOT join anti-arbitration letter to CFPB

Recently, 93 members of Congress (all Democrats) signed a letter in support of the pending Petition for Rulemaking filed by consumer advocacy groups in September that would prohibit pre-dispute consumer arbitration clauses...more

Professor Sovern’s reply underscores need for consumer education

Recently, Professor Sovern replied to our blog post that commented on the letter that he and 160 other law academicians submitted to the CFPB in support of the pending Petition for Rulemaking that would prohibit pre-dispute...more

Comment letters from consumer advocates bolster case against CFPB rulemaking on post-dispute arbitration clauses

We previously reported and released a podcast episode on comments that we and Professor David Sherwyn of Cornell University submitted in opposition to the Petition for Rulemaking filed by a number of consumer advocacy groups...more

Consumer Finance Monitor Podcast Episode: Reasons Why the CFPB Should Deny the Petition for Rulemaking on Post-Dispute Consumer... [Video]

Our special guest is David Sherwyn, Professor of Law at Cornell University's School of Hotel Administration. In Sept. 2023, a group of consumer advocate organizations filed a Petition for Rulemaking with the CFPB that would...more

CFPB reacts quickly and favorably to Petition submitted to it by consumer groups to ban pre-dispute arbitration

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 that...more

Consumer Finance Monitor Podcast Episode: A Deep Dive into Mass Arbitration, with Special Guest Andrew Pincus, Partner, Mayer... [Video]

After discussing what mass arbitration is and its growing use for claims against companies in the consumer finance industry, we discuss the factors that make companies most vulnerable to mass arbitration claims. We then...more

Arbitration “Fair Act” reintroduced in Congress

Recently, 37 Senators (36 Democrats, one Independent) and 84 members of the House of Representatives (all Democrats), led by Senator Richard Blumenthal of Connecticut and Congressman Hank Johnson of Georgia, reintroduced the...more

White House issues Blueprint for Renters Bill of Rights: Will the CFPB and FTC stay in their lanes?

Last week, the Biden Administration released a “Blueprint for a Renters Bill of Rights” (Blueprint), which sets forth five principles intended to “create a shared baseline for fairness for renters in the housing market” and...more

CFPB proposes registry for supervised nonbanks using form contracts containing arbitration provisions, waivers, or other limits

The CFPB has issued a proposed rule to establish a system for the registration of nonbanks subject to CFPB supervision that use “certain terms or conditions that seek to waive consumer rights or other legal protections or...more

Businesses Beware: CFPB reviewing “all sorts” of consumer contract clauses

On September 13, 2022, Public Justice and other consumer advocacy groups sent a letter to CFPB Director Rohit Chopra urging the CFPB to limit the use of “forced” arbitration provisions by banks and other consumer finance...more

CFPB arbitration study would not support a new regulation

Recently, Professor Jeff Sovern and I exchanged views on whether the CFPB could (or should) add arbitration rulemaking to its regulatory agenda.  Professor Sovern has now suggested that the CFPB’s 2015 Study of consumer...more

It’s Déjà Vu All Over Again from Professor Sovern

A recent blog by Professor Jeff Sovern, occasioned by the recent Senate hearing on consumer arbitration clauses, recycles two of his favorite talking points: (1) consumers don’t understand arbitration clauses, and (2)...more

Senate passes bill curbing arbitration of workplace sexual harassment claims: could more FAA exceptions follow?

The U.S. Senate passed a bipartisan bill aimed at preventing employers from requiring workers to arbitrate sexual harassment and assault claims. The bill will now go to President Biden for his expected signature. Known as...more

Supreme Court Agrees to Decide Arbitration Issue (But Not the Expected One)

On June 15, 2020, the U.S. Supreme Court granted certiorari in Henry Schein, Inc. v. Archer and White Sales, Inc. to decide a question that has divided the federal circuit courts and state supreme courts: “whether a provision...more

FAA Preemption Petitions Now Ripe for SCOTUS Conference

Briefing is now complete on the petitions for certiorari in the Blair v. Rent-A-Center appeals that could produce the next blockbuster U.S. Supreme Court arbitration decision. At issue is whether the Federal Arbitration Act...more

Petitioners in FAA Preemption Cases Receive Support of Industry Groups in Brief filed by Ballard Spahr with Supreme Court

On March 26, the American Bankers Association and the Consumer Bankers Association, represented by Ballard Spahr, filed an amicus brief in support of petitions for certiorari asking the Supreme Court to review the Ninth...more

Ninth Circuit denies Blair rehearing petitions, setting stage for possible SCOTUS review

On January 17, 2020, the Ninth Circuit denied the defendants’ petitions for panel and en banc rehearing in the Blair v. Rent a Center appeals, setting the stage for possible U.S. Supreme Court review of the California Supreme...more

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