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Author : Alan S. Kaplinsky
Publisher :
ISBN 13 :
Total Pages : 916 pages
Book Rating : 4.F/5 ( download)
Download or read book Arbitration of Consumer Financial Services Disputes written by Alan S. Kaplinsky and published by . This book was released on 1999 with total page 916 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shahla F. Ali
Publisher : Cambridge University Press
ISBN 13 : 110732856X
Total Pages : 283 pages
Book Rating : 4.1/5 (73 download)
Download or read book Consumer Financial Dispute Resolution in a Comparative Context written by Shahla F. Ali and published by Cambridge University Press. This book was released on 2013-03-14 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly all major global financial centres have developed systems of consumer financial dispute resolution. Such systems aim to assist parties to resolve a growing number of monetary disputes with financial institutions. How governments and self-regulatory organizations design and administer financial dispute resolution mechanisms in the context of increasingly turbulent financial markets is a new area for research and practice. Consumer Financial Dispute Resolution in a Comparative Context presents comparative research about the development and design of these mechanisms in East Asia, North America and Europe. Using a comparative methodology and drawing on empirical findings from a multi-jurisdictional survey, Shahla F. Ali examines the emergence of global principles that influence the design of financial dispute resolution models, considers the structural variations between the ombuds and arbitration systems, and offers practical proposals for reform.
Author : Julie Kline
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.F/5 ( download)
Download or read book Arbitration Clauses in Consumer Financial Services written by Julie Kline and published by . This book was released on 1999 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 954 pages
Book Rating : 4.F/5 ( download)
Download or read book Consumer Financial Services Litigation written by and published by . This book was released on 2009 with total page 954 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : The Law The Law Library
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781720961802
Total Pages : 454 pages
Book Rating : 4.9/5 (618 download)
Download or read book Arbitration Agreements (Us Consumer Financial Protection Bureau Regulation) (Cfpb) (2018 Edition) written by The Law The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-06-09 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitration Agreements (US Consumer Financial Protection Bureau Regulation) (CFPB) (2018 Edition) The Law Library presents the complete text of the Arbitration Agreements (US Consumer Financial Protection Bureau Regulation) (CFPB) (2018 Edition). Updated as of May 29, 2018 Pursuant to section 1028(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to regulate arbitration agreements in contracts for specified consumer financial product and services. First, the final rule prohibits covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing or participating in a class action concerning the covered consumer financial product or service. Second, the final rule requires covered providers that are involved in an arbitration pursuant to a pre-dispute arbitration agreement to submit specified arbitral records to the Bureau and also to submit specified court records. The Bureau is also adopting official interpretations to the regulation. This book contains: - The complete text of the Arbitration Agreements (US Consumer Financial Protection Bureau Regulation) (CFPB) (2018 Edition) - A table of contents with the page number of each section
Author : Consumer Financial Protection Bureau
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781540336538
Total Pages : 578 pages
Book Rating : 4.3/5 (365 download)
Download or read book Arbitration Study written by Consumer Financial Protection Bureau and published by Createspace Independent Publishing Platform. This book was released on 2016-11-30 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Section 1028(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Congress instructs the Consumer Financial Protection Bureau (the "Bureau") to study "the use of agreements providing for arbitration of any future dispute . . . in connection with the offering or providing of consumer financial products or services," and to provide a report to Congress on the same topic. This document presents the results of that study. The advantages and disadvantages of pre-dispute arbitration provisions in connection with consumer financial products or services - whether to consumers or to companies - are fiercely contested. Consumer advocates generally see pre-dispute arbitration as unfairly restricting consumer rights and remedies. Industry representatives, by contrast, generally argue that pre-dispute arbitration represents a better, more cost-effective means of resolving disputes that serves consumers well.1 With limited exceptions, however, this debate has not been informed by empirical analysis. Much of the empirical work on arbitration that has been carried out has not had a consumer financial focus. The present study is empirical, not evaluative. Although the report covers a wide range of topics, its uniform and consistent focus is on understanding the facts surrounding the resolution of consumer financial disputes - both in arbitration and in the courts - through a careful analysis of empirical evidence. Our results reflect what we believe is the most comprehensive empirical study of consumer financial arbitration carried out to date.
Author : Michael S. Barr
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (13 download)
Download or read book Mandatory Arbitration in Consumer Finance and Investor Contracts written by Michael S. Barr and published by . This book was released on 2015 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory pre-dispute arbitration clauses are pervasive in consumer financial and investor contracts -- for credit cards, bank accounts, auto loans, broker-dealer services, and many others. These clauses often ill serve households. Consumers are typically presented with contracts on a “take it or leave it” basis, with no ability to negotiate over terms. Arbitration provisions are often not clearly disclosed, and in any event are not salient for consumers, who do not focus on the importance of the provision in the event that a dispute over the contract later arises, and who may misforecast the likelihood of being in such a dispute. The lack of salience means that there is no meaningful competition over arbitration provisions or likely any price effect. Some arbitration proceedings lack procedural protections, and unbiased arbitrator selection essential for fair outcomes. In addition, many arbitration provisions contain “gag” rules barring disclosure of reasoning, evidence, or outcomes. Moreover, arbitration clauses typically preclude consumers from banding together in aggregated actions, which diminishes redress and weakens deterrence. In the wake of the financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which authorizes the new Consumer Financial Protection Bureau and the U.S. Securities and Exchange Commission to prohibit or condition the use of arbitration clauses in consumer finance and investment contracts, respectively. It is well past time for these agencies to use this authority.
Author :
Publisher :
ISBN 13 :
Total Pages : 1180 pages
Book Rating : 4.F/5 ( download)
Download or read book Annual Consumer Financial Services Institute written by and published by . This book was released on 2010 with total page 1180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Martha T. McCluskey
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (13 download)
Download or read book Regulating Forced Arbitration in Consumer Financial Services written by Martha T. McCluskey and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forced arbitration clauses have become almost unavoidable in contracts for financial services and products ranging form credit cards to private student loans. This report examines how the financial services industry uses these clauses to defeat consumers' rights and evade accountability for their wrongdoing.As the report explains, the forced arbitration process harms consumers by relegating them from the civil justice system to an inferior forum for vindicating their rights. In contrast to the courts, forced arbitration tends to be secretive, less independent of industry, more prone to erroneous and arbitrary rulings, more likely to discourage the pursuit of claims with procedural barriers, and more likely to provide inadequate relief for compensating victims of corporate wrongdoing.The report examines the 2016 proposal by the Consumer Financial Protection Bureau (CFPB) to limit the use of forced arbitration clauses in contracts for financial services and products, and finds that the proposal is consistent with the agency's statutory obligation to protect consumers. The report goes on to explain that the CFPB would better fulfill its statutory mandate by revising its proposal to include stronger protections for consumers.
Author : American Bar Association. Section of Business Law
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.3/5 (512 download)
Download or read book Taking ADR to the Bank written by American Bar Association. Section of Business Law and published by . This book was released on 1989 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shahla F. Ali
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (13 download)
Download or read book What Can the US System of Financial Arbitration Learn from Overseas Jurisdictions? An Initial Responsive Empirical Exploration written by Shahla F. Ali and published by . This book was released on 2014 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States largely relies on a system of arbitration to handle retail consumer financial disputes. This approach has undergone significant challenge in recent years particularly in light of recent abuses of consumer credit arbitration mechanisms. This paper reports on the results of a non-randomized small-n survey which we label the “Financial Dispute Study” aimed at evaluating the relative effectiveness of two major approaches to financial dispute resolution - arbitration and ombuds services. Nearly a hundred survey questionnaires were distributed to financial dispute resolution practitioners throughout the world. A total of forty-eight arbitrators and ombuds people from East Asia, North America, Europe, the Middle East and Africa responded. In the Study participants were asked how practitioners viewed the level of satisfaction, settlement rate and perceived increase or decrease in the use of the given method of financial dispute resolution - whether arbitration or ombuds service. This paper analyzes the method-effect, meaning we focus on the effect of the selected method of financial dispute resolution (whether ombuds or arbitration) on settlement, satisfaction and increase or decrease in use. In doing so, the study evaluates the relative effectiveness of two major approaches a financial dispute resolution mechanism might adopt.We find no statistically significant evidence that a given method, arbitration or the use of ombuds process has a large (or any) effect on the settlement rate, level of satisfaction and usage. To the contrary, arbitration and ombuds group point estimates are generally close to one another. Nevertheless, the data indicate slightly higher levels of settlement and overall increase in use in ombuds processes worldwide. These findings, combined with feedback from open ended interviews along with structural safeguards against repeat-player advantage integrated into the ombuds process ensuring that awards are rendered without prejudice to the claimant, suggest that merit may be found in exploring the potential applications and use of ombuds processes for the resolution of US consumer financial disputes. The paper concludes with some limited interpretation of the results.
Author : Louis F. Del Duca
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (13 download)
Download or read book Consumer Financing Pre-Dispute Mandatory Arbitration written by Louis F. Del Duca and published by . This book was released on 2015 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judicial precedent with regards to mandatory pre-dispute arbitration agreements has given such clauses substantial protection, resulting in their widespread inclusion in boilerplate contract language. However, recent findings and assertions from the Consumer Financial Protection Bureau (CFPB) may cause a serious disruption in the use of such clauses in business to consumer (B to C) contracts. Recent CFPB studies and comments suggest that the CFPB is poised to exercise its authorization under the Dodd-Frank Act to restrict the use of pre-dispute mandatory arbitration agreements in consumer contracts.
Author : Peter B. Rutledge
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Contract and Choice written by Peter B. Rutledge and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article contributes to an ongoing debate, afoot in academic, legal, and policy circles, over the future of consumer arbitration. Utilizing a newly-available database of credit card agreements, the article offers an in-depth examination of dispute resolution practices within the credit card industry. In some respects, the data cast doubt on the conventional wisdom about the pervasiveness of arbitration clauses in consumer contracts and the presence of unfair terms. For example, the vast majority of credit card issuers do not utilize arbitration clauses, and by the end of 2010, the majority of credit card debt was not subject to such an agreement. Likewise, while the use of class waivers is widespread in arbitration clauses, most clauses lack the sort of unfair procedural terms for which arbitration is often criticized. The upshot of these and other findings is that consumers, in some respects, have more choice in their contracts than the literature suggests. Our work also responds to the suggestions of some scholars that businesses favor arbitration clauses in their consumer contracts but not their business-to-business agreements. On the contrary, our research suggests that the difference may not be as dramatic as previous research suggests. These results hold important implications for ongoing policy debates, including the proposed Arbitration Fairness Act pending in Congress as well as the work of the newly-minted and controversial Consumer Financial Protection Bureau (“CFPB”). Our findings suggest that the Arbitration Fairness Act may be based on faulty empirical premises and that the blanket prohibition contained in the Act may be overbroad. Our findings also provide a model that the CFPB might follow in conducting its statutorily-required study of the use of arbitration clauses in consumer financial services contracts.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (21 download)
Download or read book Examining the CFPB's Proposed Rulemaking on Arbitration written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : American Arbitration Association
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.F/5 ( download)
Download or read book Resolving Commercial Financial Disputes written by American Arbitration Association and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Adam J. Levitin
Publisher : Aspen Publishing
ISBN 13 : 1454869062
Total Pages : 882 pages
Book Rating : 4.4/5 (548 download)
Download or read book Consumer Finance Law written by Adam J. Levitin and published by Aspen Publishing. This book was released on 2018-09-14 with total page 882 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Finance: Markets and Regulation is the first law school text to focus on consumer financial services markets and their regulation. Structured around clear expository text and realistic problem sets, the book provides comprehensive coverage of the regulation of consumer credit, payments, and financial data markets by federal, state, and private law, including detailed coverage of the authority of the Consumer Financial Protection Bureau (CFPB), a powerful new federal regulatory agency. The book also acquaints students with the full range of consumer financial products, how they operate, the risks and policy issues they raise, and their regulation. In so doing, the book provides an applied look at how regulatory agencies work, offering students a practical look at how statutes and regulations interact and how regulatory agencies enforce them. Professors and students will benefit from: Detailed coverage of the Consumer Financial Protection Bureau (CFPB), a new federal regulatory agency with broad authority over consumer credit, payment, deposit, and financial data markets Comprehensive treatment of consumer credit regulation, including mortgages, credit cards, auto loans, student loans, and small dollar loans, as well as credit disclosures, usury, and fair lending regulation State-of-the-art coverage of consumer payment systems, with detailed coverage of electronic payment systems (credit cards, debit cards, ACH) and mobile wallets Coverage of topics not found elsewhere in law school curriculum, including anti-money laundering regulations, behavioral economics, fair lending laws, and consumer financial data privacy and data security Free online statutory supplement
Author : Shahla F. Ali
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)
Download or read book Lessons for the US System of Financial Arbitration written by Shahla F. Ali and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States largely relies on a system of arbitration to handle retail consumer financial disputes. This approach has undergone significant challenges in recent years particularly in light of recent abuses of consumer credit arbitration mechanisms. This paper reports on the result of a non-randomized small-n survey which we label the “Financial Dispute Study” aiming at evaluating the relative effectiveness of two major approaches to financial dispute resolution -- arbitration and ombudsman services. Nearly a hundred survey questionnaires were distributed to financial dispute resolution practitioners throughout the world. A total of forty-eight arbitrators and ombudsmen from East Asia, North America, Europe, the Middle East and Africa responded. In the Study the participants were asked how practitioners viewed the level of satisfaction, settlement rate and perceived increase or decrease in the use of the given method of financial dispute resolution -- whether arbitration or ombudsman service.This paper analyzes the method-effect, meaning we focus on the effect of the selected method of financial dispute resolution (whether ombudsman or arbitration) on settlement, satisfaction and increase or decrease in use. In doing so, the study evaluates the relative effectiveness of two major approaches that a financial dispute resolution mechanism might adopt. We find no statistically significant evidence that a given method, arbitration or the use of ombudsman process has a large (or any) effect on the settlement rate, level of satisfaction or usage. To the contrary, arbitration and ombudsman group point estimates are generally close to one another. Nevertheless, the data indicate slightly higher levels of settlement and overall increase in use in ombudsman processes worldwide. These findings, combined with feedback from open ended interviews along with structural safeguards against repeat-player advantage integrated into the ombudsman process ensuring that awards are rendered without prejudice to the claimant, suggest that merit may be found in exploring the potential applications and use of ombudsman processes for the resolution of consumer financial disputes. The paper concludes with some limited interpretation of the results.
