News Topic: Arbitration
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Robinhood pushes engineer's 'toxic' sexism suit to arbitration
FINRA ‘secret agreement’ probe ignores larger arbitration concerns
Citi must pay $1.4M to financial advisor who called it a ‘boys club’
Trustee Who Sought Turnover of Contract Receivable Bound by Arbitration Clause
A trustee who sought "turnover" of amounts owed under a construction contract had an arbitration clause in that contract enforced against him. The Bankruptcy Court found that the bankruptcy exception to enforcement of an arbitration clause was ... Read full article
Wells Fargo accused of arbitration ‘fraud’ as state judge vacates award
Maryland Bankruptcy Court Opinion Shows Difficulty of Applying Arbitration in Bankruptcy Setting
Bankruptcy and arbitration are both intended to provide a quick and relatively efficient resolution to disputes between a debtor and his creditors. Both allow adjudication without a jury. Both systems should be able to move more swiftly than a court of ... Read full article
CFPB declares most agency rules still valid after high court decision
The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional. ... Read full article
Challenges to banks’ use of arbitration a sign of gender fights to come
Wells Fargo and JPMorgan Chase recently avoided shareholder votes tied to their use of arbitration clauses in sexual harassment cases. But socially conscious investors say the issue is likely to flare up again elsewhere and that banks would do well to ... Read full article
Wells Fargo ends mandatory arbitration in sexual harassment cases
Wells is thought to be the first big U.S. bank to allow harassment victims to go to court instead of arbitration. An investment firm that advocates for progressive causes claimed credit for the policy change. ... Read full article
Forced arbitration, JPM's contrarian move, M&A as recruiting tool: Top stories of the week
The case of a pastor wrongly-accused by Wells Fargo has mandatory arbitration back in the spotlight; JPMorgan started buying securities long before talk about rate cuts; more banks are turning to M&A to acquire talent; and more from this week's ... Read full article
Wells Fargo pushes wrongly accused N.J. pastor toward arbitration
A pastor who was falsely arrested for check fraud because of errors made by Wells Fargo employees may be forced to resolve legal claims against the bank in arbitration. The case renews questions about banks' use of the process. ... Read full article
Warren tells Dimon to stop 'exploiting' with forced arbitration
Sen. Elizabeth Warren blasted Jamie Dimon for reviving a policy that pushes JPMorgan Chase's credit card customers into arbitration to resolve disputes instead of the courts. ... Read full article
How JPMorgan's plan to send customers to arbitration wound up in court
A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration. ... Read full article
Lawmaker challenges Dimon over JPMorgan arbitration plan
Rep. Katie Porter is butting heads with Jamie Dimon again. The Democrat from California claims the bank’s new policy of making credit-card customers use arbitration instead of the courts to resolve payment disputes violates her state’s laws. ... Read full article
Goldman offers incentives to keep Marcus clients away from court
The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration. ... Read full article
Exec departures at Deutsche Bank, SoFi; N.Y. Fed chief warns on 'bad apples'
The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies. ... Read full article
Democrats push bill to end forced arbitration agreements
The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts. ... Read full article
Wells Fargo loan officers granted class action in Calif. pay dispute
A lawsuit alleging Wells Fargo improperly compensated its California-based mortgage loan officers could have broader ramifications now that it has been granted class certification. ... Read full article
Additional Wells misdeeds obscured by arbitration: Calif. official
State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration. ... Read full article