On November 1, President Trump signed H.J. Res. 111, the Joint Congressional Review Act resolution passed by the House and Senate disapproving the CFPB’s Arbitration Rule.  The Arbitration Rule, which had become effective on September 18, 2017 with a March 19, 2018 mandatory compliance date, purported to ban the use of class action waivers in arbitration provisions in consumer financial service contracts.

During this webinar, we will discuss the following topics:

  • Will the CFPB use its UDAAP authority to attack arbitration provisions as part of its supervisory and enforcement jurisdiction and, if so, what features are they more likely to attack?
  • Will the CFPB use its regulatory authority under Section 1028 of Dodd-Frank to propose an arbitration rule which is not substantially similar to the overridden rule?
  • Will a new Director of the CFPB change the CFPB’s position regarding arbitration?
  • Will state attorneys general use their UDAP or other authority to attack arbitration provisions and, if so, what features will they attack?
  • Might Congress seek to enact legislation banning or regulating the use of arbitration in consumer financial services contracts and, if so, what will the timing be?
  • Can state legislatures and/or courts (e.g., California) regulate the use or scope of arbitration agreements?
  • Should the industry expand the use of arbitration in consumer financial services contracts?
  • Should we expect an increase in private litigation challenging arbitration provisions in consumer financial services contracts and, if so, what features will be attacked and in which state or federal courts are they likely to succeed?
  • What will be the impact on the risk profile of banks and non-banks who will be able to continue to use class action waivers in their arbitration provisions?
  • What changes, if any, should be made to existing arbitration provisions?

Date & TIme

Wednesday, November 29, 2017
12:00 PM - 1:00 PM ET

Moderator

Alan S. Kaplinsky
Practice Leader
Consumer Financial Services

Speaker(s)

Scott M. Pearson
Litigation
Consumer Financial Services

Mark J. Levin
Litigation
Consumer Financial Services

This program is open to Ballard Spahr clients and prospective clients and members of the financial services industry. There is no cost to attend. This program is not eligible for CLE credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Daniel Martin at martind@ballardspahr.com.

Register