OnDemand

The Other Shoe Has Dropped: CFPB Releases Report on Arbitration

Price: $224 OnDemand

MEET THE SPEAKERS
James McGuire
Partner, Morrison & Foerster
Nancy R. Thomas
Partner, Morrison & Foerster

DESCRIPTION

Over the summer, the Consumer Financial Protection Bureau (CFPB) released its long awaited Report to Congress on arbitration agreements in consumer financial contracts. The Report’s conclusion, and Director Richard Cordray’s remarks, were as expected: consumers are better served by litigation—and particularly, class action litigation—than by agreements to arbitrate disputes. But after spending almost three years analyzing the issue, the 700-page Report does not appear to back up that conclusion. Rather, the evaluation of arbitration agreements, including class action waivers, requires complex value judgments that are not suited to the Bureau’s data-driven approach.

Please plan to join Bloomberg BNA and our panelists from Morrison & Foerster’s Financial Services Litigation Group as they analyze the CFPB’s findings, and provide a roadmap of what comes next.

Educational Objectives:
• Discuss the Consumer Financial Protection Bureau’s findings on arbitration agreements in consumer financial contracts
• Explore the prevalence of arbitration agreements
• Compare arbitration agreement features and procedures
• Address consumer understanding of dispute resolution systems
• Review the types of claims brought forward in arbitration and court

Who would benefit most from attending this program?
Legal practitioners, bankers, and companies interested in the Consumer Financial Protection Bureau and arbitration agreements in consumer financial contracts.

SPEAKERS

JAMES MCGUIRE, PARTNER, MORRISON & FOERSTER

James McGuire is a partner at Morrison & Foerster. He is a member and co-chair of the firm's Financial Services Litigation Practice Group. His practice focuses on complex civil litigation with an emphasis on the defense of consumer class actions against financial services companies under the Truth in Lending Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and state unfair practices statutes, including California's Consumer Legal Remedies Act and Unfair Competition Law. James also has significant experience with the Federal Arbitration Act and the extensive body of federal laws governing the operations of various state and federally chartered financial institutions. He is a member of the California bar.


NANCY R. THOMAS, PARTNER, MORRISON & FOERSTER

Nancy R. Thomas is a partner at Morrison & Foerster. She is a member and former co-chair of the firm’s Financial Services Litigation Practice Group. Her practice focuses on complex civil litigation, particularly the defense of consumer class actions and financial services litigation. She has defended claims brought under federal banking laws and regulations, as well as state unfair and deceptive acts and practices statutes, particularly the California Unfair Competition Law. Nancy has repeatedly won early dismissal or significant narrowing of class action suits challenging credit card and mortgage practices, including on federal preemption grounds and through motions to strike class claims. She is a member of the California and New York bars.