David S. Schwartz of Wisconsin has written Justice Scalia's Jiggery-Pokery in Federal Arbitration Law, Minnesota Law Review, Vol. 101, Headnotes 75 (2016). Here's the abstract: "Jiggery-pokery," a phrase introduced into the U.S. Reports by the late Justice Scalia, is emblematic of Justice Scalia's style — both his lively writing style and his penchant for criticizing his […]
Category Archives: Arbitration
by Jeff Sovern Yesterday the House passed the financial services appropriations bill. Here is how the Appropriations Committee describes the bill's provisions pertaining to the CFPB: The bill includes a provision to increase oversight over the CFPB by bringing funding for the agency under the annual congressional appropriations process, instead of direct funding from the […]
Here. He also said that the final arbitration and payday lending rules will come out in the next year or so.
Stephen J. Ware of Kansas has written The Politics of Arbitration Law and Centrist Proposals for Reform, 53 Harvard Journal on Legislation (2016). Here is the abstract: Arbitration law in the United States is far more controversial when applied to individuals than to businesses. While enforcement of arbitration agreements between businesses sometimes raises legal issues that […]
Here. Excerpt: * * * Affected businesses are likely to sue (in court, ironically) to try to block [the CFPB arbitration proposal]. In a move that conjures up the famous scene from “Blazing Saddles” in which Cleavon Little takes himself hostage, the financial industry has threatened to abandon consumer arbitration altogether if the regulation takes […]
by Jeff Sovern Hensarling calls the bill the Financial Choice Act. Make America Great for Banks Act is closer to the truth. Based on a quick look, the bill would give bank lobbyists power over the CFPB by subjecting it to the appropriations process, increase the likelihood of deadlocks by turning the Bureau into a commission, […]
Martha T. McCluskey of SUNY Buffalo, Thomas Owen McGarity of Texas, Sidney A. Shapiro of Wake Forest, and James Goodwin and Mollie Rosenzweig, both of the Center for Progressive Reform, have written Regulating Forced Arbitration in Consumer Financial Services: Re-Opening the Courthouse Doors to Victimized Consumers. Here's the abstract: Forced arbitration clauses have become almost unavoidable […]
by Jeff Sovern Yesterday the House Appropriations Committee reported out a bill that would convert the Bureau to a commission, subject it to the congressional appropriations process, and delay (perhaps forever) the adoption of the arbitration and payday lending rules. More information on the Committee's web site.