Browsing: Arbitration

Compliance and Risk

ABA member Sylvia Aparicio — SVP and chief lending officer at First Community Bank, Corpus Christi, Texas — yesterday represented small banks on the Small Business Review Panel convened by the Consumer Financial Protect Bureau to discuss mandatory arbitration clauses contained in products offered by small entities.

Compliance and Risk

The Consumer Financial Protection Bureau’s March study of mandatory pre-dispute arbitration agreements shows that arbitration has “significant, demonstrable benefits over litigation in general and class action litigation in particular,” ABA and two other trade groups said in a comment letter today. In keeping with those findings, the groups said, the Dodd-Frank Act would not permit

Legal

Eighty-five Republican members of the House and Senate in a letter Wednesday urged the Consumer Financial Protection Bureau to reopen its arbitration study process, saying it has not been fair, transparent or comprehensive.

Compliance and Risk

ABA, along with three trade associations and the U.S. Chamber of Commerce, wrote a letter to the Consumer Financial Protection Bureau urging the Bureau to create a Small Business Regulatory Enforcement Fairness Act panel prior to proposing rules to regulate arbitration.