Uncategorized

Trump Administration Threatens New Rule Jeopardizing Investor Protections Through Class Actions

Currently and for many decades, publicly-held companies have not been able to avoid securities fraud suits against themselves and their executives and officers, other than behaving well. In the mid- to late 1990’s, “tort reform”-style legislation, principally the Private Securities Litigation Reform Act (PSLRA) tightened up the rules for bringing such actions successfully, leading to […]

Read More

Court Issues Final Order Approving Trott Fair Debt Class Action Settlement

On September 28, 2018, the United States Court of Appeals for the Eastern District of Michigan issued a final order and judgment approving the proposed class action settlement in Martin, et al. v. Trott Law PC, et al.  The Court’s order and other settlement documents can be reviewed under the “Documents” tab at the settlement […]

Read More

McGuinness to lecture on class actions at University of Michigan Law School; judge Campbell Moot Court Competition

I have been invited by Professor Stuart Rossman of the University of Michigan Law School to present to his Consumer Class Actions class this coming December. The topic is “The Future of Class Actions.” I’m looking forward to spending a few hours interacting with law students who share an interest in my passion–class actions–at my […]

Read More

Amercian Legion op-ed calls for SEC to reject changes to allow publicly-traded companies to avoid securities fraud class actions.

Attempts to change SEC rules  to permit publicly-traded on companies to insert arbitration clauses with class action waivers in their shares or corporate governance documents have gained steam under the Trump Administration. The current SEC Chair, appointed by President Trump, has refused to reject them, as previous Democratic- and Republican-appointed Chairs have done. John Kamin, assistant […]

Read More

Save the dates: Two upcoming ABA class action seminars

June 22, 2018, San Francisco, the ABA Section of Litigation’s Class Action and Derivative Suits Committee (CADS) will co-sponsor a regional class action program that I have been pleased to help create and plan for the past four years; October 18-19, 2018, Chicago:  join us in Chicago for the ABA National Annual Institute on Class […]

Read More

New CFPB Director Mulvaney Shenanigans–Updated

This strong piece by Public Justice Executive Director Paul Bland discusses a recent move by new Consumer Finance Protection Bureau director Mick Mulvaney to block new CFPB payday lending rules: http://bit.ly/2DI4xAN .  For Paul’s recent update based on information publicized February 12, 2018, by NPR, see: http://bit.ly/2EDePoE

Read More

Equifax new “lock” service may “block” class actions; consumers beware!

In congressional testimony last week, Equifax’s new CEO refused to commit to not using forced arbitration terms for consumers who sign up for its new “credit lock” service beginning in January.  See the Yahoo Finance article HERE.  Caveat Emptor!

Read More

Consumer Financial Protection Bureau rule against forced individual arbitration

THIS timely article provides a powerful rebuttal to recent arguments in Washington against the CFPB’s rule banning forced individual arbitration agreements in bank customer account terms.

Read More

Senate set to vote on CRA repeal of CFPB rule banning class waivers in bank contracts–what’s at stake.

This Huffpost article demonstrates what’s at stake in the Senate’s decision whether to follow suit with the House of Representatives, and overturn the CFPB rule banning class action waivers in consumer finance contracts: http://bit.ly/2wBlw42.

Read More

Richard Cordray NY Times Op-Ed on Consumer Group Lawsuits (aka, class actions)

Richard Cordray, Director of the Consumer Financial Protection Bureau, defends the agency’s five-year-in-the-making rule banning class action waivers in credit card and bank account agreements here. It’s a worthwhile read.

Read More