What’s Next for Arbitration? Concepcion’s Treatment in the Lower Courts and the CFPB’s Potential Regulation of Arbitration
Author: Archis A. Parasharami.
Source: Volume 26, Number 03, January/February 2013 , pp.31-42(12)
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Abstract:
The U.S. Supreme Court’s decision in AT&T Mobility LLC v. Concepcion is a potential game-changer for class-action litigation. Since Concepcion, most courts have been enforcing arbitration agreements that waive class treatment of claims. Although the Second Circuit has sought to distinguish Concepcion in the context of claims under federal law, the U.S. Supreme Court has recently granted review of the leading Second Circuit decision. In the meantime, the new Consumer Financial Protection Bureau (CFPB) is charged with studying the use of arbitration and, based on that study, may regulate or prohibit the use of arbitration in financial services contracts.Keywords: class-action litigation; arbitration agreements; AT&T Mobility LLC v. Concepcion; Consumer Finance Protecton Bureau
Affiliations:
1: Mayer Brown LLP.