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Automotive Loans › Arbitration Agreements › Class Action

Hudson Cook, LLP

Not All Third Parties Are Created Equal

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Motor vehicle purchase and finance transactions are rarely simple, even if they're routine from the perspective of the businesses involved. The typical motor vehicle retail installment transaction features the buyer, the...more

Burr & Forman

Fall 2017 Consumer Financial Protection Bureau Update

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The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

Congressman Hensarling’s Dodd-Frank replacement bill to include CFPB reforms

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Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee Chairman, released a summary of a bill to replace the Dodd-Frank Act.  The bill is entitled “The Financial CHOICE Act,” with “CHOICE”...more

Carlton Fields

Fourth Circuit Considers Whether Arbitration Agreement Was Binding Where Parties Modified Contract Through Conduct

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In early April, the Fourth Circuit Court of Appeals considered whether an arbitration agreement was “a written provision” for purposes of the Federal Arbitration Act where the parties modified the contract through their...more

Polsinelli

Two Major Implications for Consumer Finance Industry from This Month’s Proposed CFPB Rules

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When the Consumer Finance Protection Bureau (CFPB) released its study on the use of pre-dispute arbitration (PDA) clauses earlier this year, many expected the CFPB to propose a ban on all PDAs in contracts for consumer...more

Moore & Van Allen PLLC

CFPB Singles Out Class Action Waivers for Elimination from Consumer Financial Arbitration Agreements

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The Consumer Financial Protection Bureau (“CFPB”) made clear this week that, in its view, class action waivers should be on the chopping block in the agency’s upcoming rulemaking aimed at regulating the use of arbitration...more

BakerHostetler

CFPB Taking Steps to Ban Class Action Waivers

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On October 7, the CFPB announced at a field hearing in Denver, Colorado, that it plans to propose rules via its rule-making authority that would prohibit financial services companies from including class action waivers in...more

Stinson LLP

CFPB Takes Aim at Class Action Waivers in Arbitration

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On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is considering proposing rules that would prohibit companies from including in consumer contracts arbitration clauses that prevent...more

Carlton Fields

California Supreme Court Upholds Consumer Contract Arbitration Provision Under California’s Unconscionability Framework

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In a dispute over the purchase of a car, the purchaser filed a class action in California against the car dealer, and the dealer moved to compel arbitration. The dealer invoked the arbitration agreement contained in the...more

BakerHostetler

CA Supreme Court Upholds Class Action Waivers in Long-awaited Sanchez Decision

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On August 3, 2015, the California Supreme Court issued its long-awaited decision in Sanchez. v. Valencia Holding Company, LLC (2015) — Cal.4th — (Sanchez). The court provided much-needed clarity for consumers and auto finance...more

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