A new report examines the use of arbitration agreements in the workplace by the top 100 largest domestic United States companies, as ranked by Fortune magazine. The key finding: 80 of the top 100 largest companies in America, including subsidiaries or related affiliates, have used arbitration agreements in connection with workplace-related disputes since 2010. Of […]
Consumer Financial Protection Bureau Director Richard Cordray said today that the three credit ratings agencies — Equifax, Trans Union, and Experian — are going to be getting embedded regulators to prevent future breaches of private information. CNBC has the story, here.
Quoting from the CFPB's press release issued yesterday: The Consumer Financial Protection Bureau released the results of a first-of-its-kind national survey on the financial well-being of U.S. consumers that showed that more than 40 percent of U.S. adults struggle to make ends meet. The survey provides measurements and insights on the financial well-being of specific […]
Jeffrey H. Dasteel of UCLA has written CONSUMER CLICK ARBITRATION: A REVIEW OF ONLINE CONSUMER ARBITRATION AGREEMENTS, 9 Arbitration Law Review 1 (2017). Here is an excerpt from the conclusion: Our review of websites with arbitration clauses, in-store transactions for retailers with brick and mortar outlets and online sales, and prior studies on whether online consumers […]
The National Law Journal has published this debate/discussion between corporate litigator (and sometimes lawyer for the Chamber of Commerce lawyer) Andy Pincus and this blog's Deepak Gupta. (Possibly behind a paywall.)
In Class Actions in the Era of Trump: Trends and Developments in Class Certification and Related Issues, law profs Jack Coffee and Alexi Lahav just that. Here's the abstract: In this memorandum prepared for the Annual ABA National Institute on Class Actions, Professors Coffee and Lahav review and assess developments in class certification over recent years, […]
by Jeff Sovern Why this week? Deepak Gupta speculated on Twitter: Why is GOP pushing this vote now? Possibly to get ahead of hearings next week at which Equifax and Wells Fargo execs will have to testify. But if that's true, that means that arbitration supporters expect that those hearings will generate opposition to arbitration. […]
The letter is here. Marketwatch has a report headlined 400 college professors say you should be able to sue Equifax and other financial institutions. Excerpt from the report: The professors are sending the letter Monday because it is Sept. 25, the anniversary of when Congress passed the Seventh Amendment to the U.S. Constitution in 1791, which states: […]
Jeff noted a few days ago that a credit union had filed a class action against Equifax. This article (possibly behind a paywall) by Amanda Bronstad discusses that class action some detail, plus another as well. Here's an excerpt: Summit Credit Union in Madison, Wisconsin, has brought a class action on behalf of all credit unions that have had to […]
by Jeff Sovern Reuters has a report here. Excerpt: The U.S. consumer finance watchdog agency is expected to punish Equifax for its cyber breach with the wide-ranging powers it has used with Wall Street, former agency officials and lawyers said this week. The credit-reporting company is subject to five federal laws governing listed companies, the […]