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Financial Services Industry Federal Arbitration Act Arbitration Agreements

Troutman Pepper

Ninth Circuit Issues Decision Limiting Scope of Concepcion

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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

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

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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

Carlton Fields

Third Circuit Reverses Order Denying Motion to Compel Arbitration, Holds Arbitration Clause in Consumer Financing Agreement Is...

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In Mancuso v. MDG USA Inc., the Third Circuit Court of Appeals considered defendant MDG’s appeal of an order denying its motion to compel arbitration of the plaintiff’s lawsuit alleging violations of state and federal fair...more

Troutman Pepper

Ninth Circuit Reverses District Court, Sending Opportunity Financial Lawsuit to Arbitration

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The U.S. Court of Appeals for the Ninth Circuit recently reversed a district court’s ruling, which had denied a motion to compel arbitration of Opportunity Financial (OppFi) on the basis that the arbitration clause was...more

Troutman Pepper

Supreme Court to Decide Whether District Courts Have the Discretion to Dismiss Cases Subject to Arbitration

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Recently the U.S. Supreme Court granted the petition for certiorari in Smith v. Spizzirri, which presents the question of whether § 3 of the Federal Arbitration Act (FAA) requires district courts to issue a stay pending...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

Seventh Circuit stays order requiring Samsung to pay millions in arbitration fees

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We previously blogged 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...more

Ballard Spahr LLP

Ballard Spahr attorneys and Cornell University law professor submit comments opposing CFPB rulemaking on post-dispute consumer...

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Ballard Spahr Senior Counsel Alan S. Kaplinsky and Mark J. Levin, and David Sherwyn, Professor of Law at Cornell University’s School of Hotel Administration, today submitted lengthy comments to the Consumer Financial...more

Ballard Spahr LLP

OppFi Hat Trick: Third Federal Court Upholds Arbitration Clause

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Earlier this month, in Fama v. Opportunity Financial LLC, a Magistrate Judge of the federal district court for the Western District of Washington held that the arbitration provision in OppFi’s installment loan agreement is...more

Carlton Fields

SCOTUS Removes Burden Handicapping Appeals Seeking Arbitration

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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

Ballard Spahr LLP

Further thoughts on consumer understanding of arbitration clauses

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Professor Jeff Sovern recently blogged about the FTC’s June 2023 revisions to its Endorsement Guide. The Guide helps advertisers and endorsers make sure that their advertising using endorsements or testimonials is truthful...more

Proskauer - Minding Your Business

Ninth Circuit Splits From the Second, Third and Fourth Circuits in “Brain Twister” Arbitration Case

Arbitration provisions are common features of commercial agreements.  Arbitration is often touted as a cost-effective alternative to litigation that provides contract parties the freedom to decide everything from what law the...more

Jackson Lewis P.C.

Financial Industry Regulatory Authority Arbitration Of Employment Disputes

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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

Ogletree, Deakins, Nash, Smoak & Stewart,...

Answers to 10 Questions About California’s Ban on Mandatory Arbitration of Statutory Employment Claims

California is set to become the only state to outlaw predispute mandatory arbitration of statutory employment claims. On October 10, 2019, Governor Gavin Newsom signed California Assembly Bill (AB) 51, which prohibits...more

Ballard Spahr LLP

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

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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

Manatt, Phelps & Phillips, LLP

California Arbitration Decision Highlights McGill Risk

A recent arbitration decision by a federal district court in San Diego highlights the risk posed by the California Supreme Court’s 2017 decision in McGill v. Citibank. McGill held that California public policy precludes the...more

Carlton Fields

New York Federal Court Finds Vacatur of Arbitration Award Not Warranted

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Michael Miller (“Miller”) filed a petition to vacate an arbitration award against UBS Financial Services Inc. and UBS Credit Corp. (collectively “UBS”) claiming that “the award is unsound because two of the three arbitrators...more

BakerHostetler

Two New Bills in Congress Seek to Restrict Arbitration Agreements

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Two bills making their way through Congress are taking aim at the practice of including binding arbitration agreements in consumer-facing contracts, particularly those in financial industry contracts....more

Mintz - Arbitration, Mediation, ADR...

The Right to Compel Arbitration Under the FAA Can Be Overridden by Another Federal Statute

The Federal Arbitration Act (“FAA”) reflects a strong federal policy in favor of arbitration. In extraordinary cases, however, a dispute that otherwise would be arbitrable under the FAA could be rendered non-arbitrable by...more

Mintz - Arbitration, Mediation, ADR...

Arbitrability Basics: An Illustration of the “Autonomy” Principle

Arbitration is a creature of contract. So is the law concerning contracts with an arbitration clause the same as the law concerning any other contract? Almost. One must always bear in mind the “separability” or “independence”...more

Bilzin Sumberg

CFPB Arbitration Rule Eliminated by Congress and President

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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

Troutman Pepper

Consumer Data Breach: Equifax and Arbitration

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The latest large consumer data breach, this time involving Equifax, has also shed a sharp light on an ongoing controversy about consumers’ access to justice. In taking steps to ameliorate its PR crisis, Equifax found itself...more

Seyfarth Shaw LLP

Senate Kills CFPB Rule Prohibiting Class Action Waivers

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Yesterday the Senate struck down a new Consumer Financial Protection Bureau (“CFPB”) rule which would have prohibited providers of financial products and services from including class action waivers in their arbitration...more

Smith Debnam Narron Drake Saintsing & Myers,...

Congress Votes To Repeal CFPB’s Arbitration Rule

The Senate voted on Tuesday, October 24, to repeal the CFPB’s Arbitration Rule first proposed in May of 2016 and issued in its final form in July. The rule would have imposed limitations on the use of pre-dispute arbitration...more

Troutman Pepper

Senate Strikes Down CFPB Arbitration Rule

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The short-lived rule will likely be remembered as part of the Trump Administration’s dismantling of the Obama Administration’s legacy, and as continuing the trend of courts strictly enforcing agreements to arbitrate as...more

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