Archives: Class Action Waiver

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Senate Votes to Overturn CFPB Arbitration Rule

Late last night, the US Senate voted 51 to 50 to repeal a Consumer Financial Protection Bureau (CFPB) rule prohibiting class action waivers in arbitration agreements.  All but two Republicans (Senators Lindsey Graham (SC) and John Kennedy (LA)) voted to repeal the CFPB’s arbitration rule while all Democrats voted against repeal.  Vice President Mike Pence … Continue Reading

The CFPB Issues Final Arbitration Rule Amid Uncertainty and Controversy: Will Its Gamble Pay Off?

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued its final rule precluding class action waivers in arbitration agreements in many consumer financial services contracts.  The much-anticipated final rule comes more than a year after the CFPB issued its proposed rule, which was based on the CFPB’s March 2015 study of consumer arbitration … Continue Reading

McGill v. Citibank, N.A.: Is the California Supreme Court Setting Up Another Showdown with the United States Supreme Court Over Arbitration?

On April 6, 2017, in a unanimous decision, the California Supreme Court held that an arbitration agreement in Citibank’s credit card contract that purportedly waived the plaintiff’s right to seek public injunctive relief under the Consumers Legal Remedies Act (CLRA), the Unfair Competition Law (UCL), and the False Advertising Law (FAL) in any forum was unenforceable as … Continue Reading
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