The Consumer Financial Protection Bureau’s proposal, and promulgation, of its anti-arbitration rule led many companies to defer considering whether and how to update existing arbitration agreements—and, for those that did not utilize arbitration, whether to implement an arbitration system.
With the invalidation of the CFPB rule earlier this month—as a result of Congress’s passage of a joint resolution of disapproval under the Congressional Review Act and the President’s signature on that joint resolution—these issues are ripe to be addressed. In addition, new arguments being advanced in court to try to defeat arbitration may necessitate revision of existing agreements.
Mayer Brown’s arbitration team—including the lawyers who worked with the coalition advocating congressional disapproval and who filed the lawsuit challenging the CFPB rule in court—will address the full range of issues relevant to companies’ assessment of arbitration agreements, including:
- The regulatory and legal landscape following invalidation of the CFPB rule.
- Pros and cons of implementing an arbitration system.
- Drafting an arbitration agreement to withstand legal attack—including the new arguments being raised by arbitration opponents.
- Revising existing arbitration agreements to ensure enforceability.
- Importance of arbitration agreements for purchasers of consumer loans—and key provisions to look for
For additional information, please contact Liz Whitley at email@example.com or +1 202 263 3092.
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