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 […]
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 […]
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: . For Paul’s recent update based on information publicized February 12, 2018, by NPR, see: http://bit.ly/2EDePoE
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!
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.
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: .
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.
I recommend this Times Op-Ed piece published today written by Anita Hill on the importance of class actions to the advancement of civil rights in problem sectors of our economy–such as Silicon Valley: http://nyti.ms/2ulSsM5 . The United States Supreme Court is expected to resolve during its next term whether the National Labor Relations Act prohibits class […]
A strong op-ed was published today by Public Justice Executive Director Paul Bland, one of the nation’s top lawyer-experts on arbitration clauses. Worth a read
On July 10, 2017, the CFPB issued its final consumer finance contract arbitration rule, which does not prohibit arbitration clauses in consumer financial contracts for credit cards, bank accounts, and other financial products and services–but prohibits clauses that ban class actions. This rule issued under specific authority from Congress after the 2008-09 “great recession,” and […]
