News & Analysis as of

Consumer Financial Products › Contract Terms › Arbitration Agreements

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

Ballard Spahr LLP

Is the ‘Clarified’ AAA Clause Registration Rule Clear Enough?

Ballard Spahr LLP on

Effective May 1, 2025, the American Arbitration Association (“AAA”) amended its Consumer Arbitration Rules, including Rule 12 dealing with the registration of consumer arbitration clauses. The AAA stated that its goal was to...more

Orrick, Herrington & Sutcliffe LLP

District Court enforces arbitration in online lending platform dispute

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On March 21, the U.S. District Court for the Eastern District of Pennsylvania filed a memorandum upholding a company’s requirement that a consumer’s claims be resolved in arbitration. In this case, the plaintiff, on behalf of...more

Orrick, Herrington & Sutcliffe LLP

The Revival of Badie Arbitration Suits in Consumer Finance

Orrick, Herrington & Sutcliffe LLP on

Bilateral arbitration is under increasing attack. While businesses evaluate whether and how to update their arbitration clauses in light of the U.S. Court of Appeals for the Ninth Circuit's October decision in Heckman v. Live...more

Saul Ewing LLP

Pennsylvania Judge Rejects Loan Provider’s Effort to Enforce Arbitration and Class Action Waiver Clauses Found in Smartphone App

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For the past decade, many courts have found class action waivers in consumer contracts to be valid and enforceable under the Federal Arbitration Act. However, recently, the Allegheny Court of Common Pleas in Pittsburgh...more

Troutman Pepper Locke

CFPB Introduces New Rule Banning Certain Contractual Provisions in Consumer Financial Agreements

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The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements for consumer financial products or services. The CFPB’s proposal targets certain...more

Proskauer - Minding Your Business

Ninth Circuit Splits From the Second, Third and Fourth Circuits in “Brain Twister” Arbitration Case

Proskauer - Minding Your Business on

Arbitration provisions are common features of commercial agreements.  Arbitration is often touted as a cost-effective alternative to litigation that provides contract parties the freedom to decide everything from what law the...more

Morgan Lewis

FINRA Member Firms Promptly Should Review Predispute Arbitration Provisions in Customer Agreements

Morgan Lewis on

Pursuant to FINRA Regulatory Notice 21-16 that was issued on April 21, 2021, FINRA has observed certain practices that could subject firms to disciplinary action concerning predispute arbitration provisions in customer...more

Carlton Fields

Tenth Circuit Affirms Partial Enforcement of Arbitration Clause

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The Tenth Circuit recently affirmed a district court’s decision partially compelling arbitration. Jesse Romero took out three title loans with TitleMax of New Mexico, Inc. Romero used his third loan to pay off his second loan...more

Carlton Fields

Third Circuit Finds Agreement To Arbitrate Unenforceable Because Arbitration Was Directed To An Illusory Forum

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Where a Loan Agreement’s arbitration provision stated disputes “will be resolved by Arbitration, which shall be conducted by the Cheyenne River Sioux Tribal Nation by an authorized representative in accordance with its...more

Carlton Fields

Court Compels Discovery, Awards Sanctions In Dispute Over Whether Reinsurance Arbitration Clause Applies

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In 2011, Top’s Personnel entered into a reinsurance agreement with Applied Underwriters Captive Risk Assurance Company (“AUCRA”), and several years later executed a promissory note (“the Note”) in favor of a related entity,...more

Carlton Fields

Fourth Circuit Affirms Finding That Arbitration Agreement In Payday Loan Obtained Over The Internet Is Unenforceable

Carlton Fields on

Plaintiff electronically signed a contract which contained: (1) terms governing the loan; (2) an agreement to submit disputes to arbitration; and (3) a choice of law provision which required the application of Otoe-Missouria...more

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