Senate Banking Committee Hearing Sets the Stage for Pros and Cons of Arbitration Clauses

Capitol

 

The committee examined mandatory arbitration in financial products with perspective from financial services and consumer advocate organizations. The House Rules Committee will review similar legislation on arbitration March 15. 03/14/2022 11:00 A.M. 4.5 minute read Serving as a vehicle for Senate Banking Committee Chairman Sherrod Brown’s reintroduced Arbitration Fairness for Consumers Act (S.B. 3755)—cosponsored by […]

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Breedlove v. Santander: Creditor Impliedly Waives Arbitration Rights

 

The consumer’s auto loan was discharged in bankruptcy and the creditor pulled the consumer’s credit report. The consumer filed a class-action lawsuit against the creditor for a Fair Credit Reporting Act violation. After seven months of litigation, the creditor attempted to assert arbitration rights. The court found the creditor had waived its arbitration rights by its actions. […]

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