An Executive Order issued by Washington Governor Jay Inslee on June 12, 2018 seeks to rebuff the U.S. Supreme Court’s ruling in Epic Systems LLC v. Lewis, 138 S. Ct. 1612 (May 21, 2018), by implementing new state procurement procedures that overtly discriminate against companies whose employment agreements contain arbitration provisions with class action
Arbitration
NY bars use of mandatory arbitration agreements by career training schools
By John L. Culhane, Jr. on
The New York Education Department (NYED) has issued a ruling which states that the Bureau of Proprietary School Supervision (BPSS) will not permit an enrollment agreement, including an arbitration clause, to infringe on the Commissioner of Education’s or the NYED’s jurisdiction “to investigate schools and issue findings (whether or not a complaint is filed), to…
Dept. of Education proposes disclosure of pre-dispute arbitration agreements by schools receiving Title IV aid for student borrowers
By John L. Culhane, Jr. on
The Department of Education, in an issue paper submitted as part of negotiated rulemaking on its final “borrower defense” rule, is proposing to require schools that use pre-dispute arbitration agreements and class action waivers in agreements with students to provide disclosures to students regarding their use of such agreements and waivers.
The ED’s proposed approach…
CFPB to Remove Arbitration Rule from CFR
By Alan S. Kaplinsky & Mark J. Levin on
Posted in Arbitration, CFPB Monitor
The CFPB is scheduled to publish a notice in tomorrow’s Federal Register removing the agency’s final arbitration rule from the Code of Federal Regulations (CFR). The rule was originally published in the Federal Register on July 19, 2017. However, Congress disapproved the rule under the Congressional Review Act on October 24, 2017, and President…
CFPB Finally Acknowledges Arbitration Rule “Has No Force or Effect”
By Alan S. Kaplinsky & Mark J. Levin on
Posted in Arbitration, CFPB Monitor
Two weeks after President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule, the CFPB has formally acknowledged Congress’ override of the rule under the Congressional Review Act. The following notice is now posted at the head of the section of the CFPB’s website dealing…
CFPB issues fifth Financial Literacy Annual Report
By Barbara S. Mishkin on
The CFPB has issued its fifth Financial Literacy Annual Report to Congress. The report describes the CFPB’s ongoing financial literacy work, “with an emphasis on work during October 2016 through September 2017.” It covers the CFPB’s financial literacy strategy, its financial education initiatives generally and those specifically targeted at students and young adults, servicemembers, economically…
Director Cordray criticizes CRA override of CFPB arbitration rule
By Alan S. Kaplinsky & Mark J. Levin on
Posted in Arbitration, CFPB Monitor
In a blog post last week, we noted that there had been no official statement from the CFPB about Congress’ override of the CFPB’s arbitration rule, which President Trump signed on November 1.
Since publishing our blog post, we learned that Director Cordray had issued a statement on November 1 in which he criticized…
When will the CFPB formally acknowledge that Congress has repealed its arbitration rule?
By Alan S. Kaplinsky & Mark J. Levin on
Posted in Arbitration, CFPB Monitor
Today will mark one week since President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule.
Since that time, there has been no official statement from the CFPB about the override of the arbitration rule. The arbitration rule was not mentioned in Director Cordray’s…
Finance industry groups file dismissal notice in lawsuit seeking to overturn CFPB arbitration rule
By Alan S. Kaplinsky & Mark J. Levin on
Posted in Arbitration, CFPB Monitor
The plaintiffs in the lawsuit filed by industry groups in a Texas federal district court against the CFPB to overturn the final arbitration rule have filed a Notice of Voluntary Dismissal.
Yesterday, President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule. In…
President Trump signs CFPB arbitration rule override
By Alan S. Kaplinsky & Mark J. Levin on
Today, President Trump signed H.J. Res. 111, the joint resolution passed by the House and Senate disapproving the CFPB arbitration rule.
The House and Senate actions were taken pursuant to the Congressional Review Act (CRA), which establishes a fast-track procedure under which Congress can override a federal agency’s final rule by passing a resolution of…