News & Analysis as of

Class Action Financial Services Industry Arbitration Agreements

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Troutman Pepper

Ninth Circuit Issues Decision Limiting Scope of Concepcion

Troutman Pepper on

In Heckman v. Live Nation Entertainment, Inc., a panel of the Ninth Circuit affirmed a lower court decision refusing to enforce the Ticketmaster arbitration provision in a purported consumer antitrust class action brought...more

Ballard Spahr LLP

Lawmakers and AFSA oppose future arbitration rulemaking

Ballard Spahr LLP on

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

Alston & Bird

Class Action & MDL Roundup 2023 Q3 - Catching the Class Action Waive(r)

Alston & Bird on

Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the third quarter of 2023. In this edition, a mistake is just a mistake, “99.99%” isn’t 100% clear, and faxes aren’t always...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Ballard Spahr LLP

Professor Sovern’s reply underscores need for consumer education

Ballard Spahr LLP on

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

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Carlton Fields

SCOTUS Removes Burden Handicapping Appeals Seeking Arbitration

Carlton Fields on

The U.S. Supreme Court’s June 2023 decision in Coinbase Inc. v. Bielski requires that district court litigation in any matter remain in the starting gate while any appeal from a denial of a motion to compel arbitration in...more

Troutman Pepper

CFPB Will Seek Public Input on Proposed Rule on Mandatory Pre-Dispute Arbitration Provisions

Troutman Pepper on

In response to a petition filed last week by a number of consumer advocacy groups, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it will be seeking public input on a possible rule that would curtail...more

Alston & Bird

Class Action & MDL Roundup 2023 Q1 – We Don’t Discount Confidentiality

Alston & Bird on

Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2023. In this edition, in pork we antitrust, paid time off is not pay, and if it’s free, it won’t cost...more

Jackson Lewis P.C.

Financial Industry Regulatory Authority Arbitration Of Employment Disputes

Jackson Lewis P.C. on

The Financial Industry Regulatory Authority, Inc. (FINRA) is an independent regulatory body, overseeing securities firms and their brokers and other registered personnel. Arbitration of employment disputes in the arbitration...more

Pierce Atwood LLP

District Of Massachusetts Holds That Consumers With No Arbitration Agreement Must Arbitrate Their “Closely Intertwined” Class...

Pierce Atwood LLP on

It is a legal maxim that arbitration is a creature of contract. A recent District of Massachusetts decision explores critical questions about when that creature can exist outside of the confines of a binding agreement to...more

Ballard Spahr LLP

House passes bill to ban mandatory arbitration agreements; White House threatens veto

Ballard Spahr LLP on

This past Friday, by a vote of 225-186, the House passed H.R. 1423, the “Forced Arbitration Injustice Repeal Act.”  A Senate companion bill (S. 610) was introduced in February 2019 and referred to the Senate Judiciary...more

Ballard Spahr LLP

New bills introduced to prohibit use of mandatory arbitration provisions

Ballard Spahr LLP on

Democratic lawmakers have introduced several new bills to prohibit the use of mandatory arbitration provisions, ranging from bills that broadly target consumer transactions to bills that target schools that receive Title IV...more

Ballard Spahr LLP

Sixth Circuit Continues To Expand Class Action Waivers, Following Supreme Court's Lead

Ballard Spahr LLP on

The U.S. Supreme Court's ruling in Epic Systems Corp. v. Lewis was extended by the U.S. Court of Appeals for the Sixth Circuit last week in Gaffers v. Kelly Services, Inc. ...more

Ballard Spahr LLP

Online Arbitration Agreement Must Be “Reasonably Communicated and Accepted”

Ballard Spahr LLP on

Ruling in a class action brought against Uber Technologies, Inc., the U.S. Court of Appeals for the First Circuit recently held that the company's arbitration clause could not be enforced because it was not "reasonably...more

Polsinelli

Trump Blocks CFPB Arbitration Rule, but the Story’s Not Over Yet

Polsinelli on

President Donald Trump effectively stopped the Consumer Financial Protection Bureau’s (CFPB) so-called “arbitration rule,” signing legislation repealing the rule on Nov. 1. The rule would have prohibited providers of certain...more

Ballard Spahr LLP

CFPB to Remove Arbitration Rule from CFR

Ballard Spahr LLP on

The CFPB is scheduled to publish a notice in tomorrow’s Federal Register removing the agency’s final arbitration rule from the Code of Federal Regulations (CFR). ...more

Pierce Atwood LLP

Consumer Financial Services Arbitration: Another Perspective

Pierce Atwood LLP on

Much has been said and written about Congress’ rejection of the CFPB proposal to ban class action waivers in arbitration agreements between consumers and financial services companies. One of the most frequent statements I...more

Ballard Spahr LLP

CFPB Finally Acknowledges Arbitration Rule “Has No Force or Effect”

Ballard Spahr LLP on

Two weeks after President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule, the CFPB has formally acknowledged Congress’ override of the rule under the...more

Ballard Spahr LLP

Director Cordray criticizes CRA override of CFPB arbitration rule

Ballard Spahr LLP on

In a blog post last week, we noted that there had been no official statement from the CFPB about Congress’ override of the CFPB’s arbitration rule, which President Trump signed on November 1....more

Ballard Spahr LLP

When will the CFPB formally acknowledge that Congress has repealed its arbitration rule?

Ballard Spahr LLP on

Yesterday marks one week since President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule....more

Seyfarth Shaw LLP

Another One Bites the Dust - the President Kills the CFPB Arbitration Rule

Seyfarth Shaw LLP on

Seyfarth Synopsis: Pursuant to the the Congressional Review Act, President Trump officially repealed the CFPB Arbitration Rule. As expected, President Trump signed the resolution to repeal the arbitration rule proposed...more

Carlton Fields

No Treat For CFPB: Trump, Congress Override Rule On Class Action Waivers

Carlton Fields on

On November 1, President Trump signed legislation disapproving a CFPB rule designed to prohibit class action waivers in certain consumer financial services contracts. In so doing, Trump rejected a last minute personal appeal...more

Bilzin Sumberg

CFPB Arbitration Rule Eliminated by Congress and President

Bilzin Sumberg on

On November 1, President Trump formally did away with a Consumer Financial Protection Bureau (CFPB) arbitration rule that would have given consumers the opportunity to file class actions against banks and other companies in...more

Ballard Spahr LLP

Finance industry groups file dismissal notice in lawsuit seeking to overturn CFPB arbitration rule

Ballard Spahr LLP on

The plaintiffs in the lawsuit filed by industry groups in a Texas federal district court against the CFPB to overturn the final arbitration rule have filed a Notice of Voluntary Dismissal....more

139 Results
 / 
View per page
Page: of 6

"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