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Category Archives: Arbitration

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Director Cordray’s appearance at Senate Banking Committee hearing yields arbitration news

By Barbara S. Mishkin on Posted in Arbitration, CFPB General

The only new item of information revealed by Director Cordray during his appearance yesterday before the Senate Banking Committee hearing (in response to a question from Senator Elizabeth Warren) was that he feels “quite sure” that  at least “some” of the results of the CFPB’s study of consumer arbitration will be publicly released this year…. More >

CFPB responds to arbitration study inquiry from Republican House members

By Alan S. Kaplinsky on Posted in Arbitration

Last April, the CFPB announced that it was beginning its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act.  Last week, nearly a year after that announcement, David Silberman, the CFPB’s Associate Director for Research, Markets, and Regulations, sent a letter to four Republican House members responding to their letter inquiring about the… More >

U.S. government takes position on validity of class action waivers in arbitration agreements with CFPB on sidelines (for now)

By Alan S. Kaplinsky on Posted in Arbitration

On January 30, the United States filed an amicus brief in the U.S. Supreme Court supporting the Respondents in American Express Company v. Italian Colors Restaurant, No. 12-133, an extremely important case involving the Federal Arbitration Act (FAA).  As described in more detail in our legal alert issued soon after the Supreme Court agreed to… More >

Pew arbitration report could be sent to CFPB

By Alan S. Kaplinsky and Mark J. Levin on Posted in Arbitration

 The Pew Charitable Trust has released a report on the use of arbitration clauses by banks in checking account agreements. The report contains Pew’s findings on the prevalence of arbitration clauses and consumer attitudes about arbitration.  It has been reported that Pew has sent or will send the report to the CFPB to use in… More >

CFPB engages Professor Christopher Drahozal as a research consultant on its arbitration study

By Alan S. Kaplinsky on Posted in Arbitration

This past Wednesday afternoon I participated as a panel member in a symposium sponsored by the University of Maryland Law School entitled “Great Conversations: The Role of Consumer Arbitration in Consumer Lending.”   Also on the panel were Will Wade-Gery, who is heading up the CFPB’s empirical study on consumer arbitration that was announced last April, and Professor… More >

CFPB releases comments on arbitration study

By Alan S. Kaplinsky and Mark J. Levin on Posted in Arbitration

Earlier this week, we shared the comment letter that was filed jointly by the American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable in response to the CFPB’s Request for Information Regarding Scope, Methods, and Data Sources for Conducting Study of Pre-Dispute Arbitration Agreements.  Ballard Spahr was engaged by the trade groups to… More >

Trade groups comment on CFPB arbitration study

By Alan S. Kaplinsky and Mark J. Levin on Posted in Arbitration

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable have filed a joint comment letter responding to the CFPB’s Request for Information Regarding Scope, Methods, and Data Sources for Conducting Study of Pre-Dispute Arbitration Agreements.  Ballard Spahr served as counsel to the trade groups in preparing the comment letter.  The Dodd-Frank… More >

CFPB issues request for information to guide arbitration study

By Alan S. Kaplinsky on Posted in Arbitration

As a precursor to its study of consumer arbitration mandated by Section 1028 of the Dodd-Frank Act, the CFPB issued today a “Request for Information Regarding Scope, Methods, and Data Sources for Conducting Study of Pre-Dispute Arbitration Agreements.”  The request, which will be published in the Federal Register, seeks public comment by June 23, 2012 on a… More >

Arbitration is off the CFPB back burner

By Alan S. Kaplinsky on Posted in Arbitration

Section 1028 of Dodd-Frank requires the CFPB to conduct a study of the use of pre-dispute arbitration provisions in consumer financial services contracts. It requires it to provide a report to Congress and to then decide whether to issue a regulation which will prohibit their use if the study concludes that it is not in… More >