Davis Polk Insights on Financial Regulation
Mr. Polubinski is a partner in Davis Polk’s Litigation Department. [Full Bio]
Many have commented on the suit filed last week challenging the CFPB’s arbitration rule, but few have considered what impact, if any, the suit could have on the fast-approaching compliance date of March 19, 2018.
As a reminder, the Chamber of Commerce and other trade associations filed a long-anticipated suit…
Continue Reading Thoughts on Suit to Vacate CFPB Arbitration Rule
Since the CFPB issued its Arbitration Rule in July, most commentators have focused on ways the rule may be blocked from going into effect. Chief among these is the possibility that Congress will vote to overturn the rule under the Congressional Review Act, and the House did promptly vote in…
Continue Reading What Happens if the CFPB Arbitration Rule Isn’t Overturned? – Ten Practical Tips to Think About Now
Yesterday afternoon, the CFPB issued a final rule that, once it becomes effective, is designed to prohibit providers of certain consumer financial products or services from using pre-dispute arbitration clauses to bar consumers from participating in class action lawsuits. Although covered providers will still be permitted to include mandatory arbitration…
Continue Reading CFPB Issues Final Rule Limiting Use of Arbitration Clauses in Consumer Financial Contracts
Decision Yesterday and Two Denials of Certiorari Today Decline to Apply American Pipe Tolling to Statutes of Repose Under Both the ’33 Act and ’34 Act
On June 26, 2017, the United States Supreme Court decided California Public Employees’ Retirement System v. ANZ Securities, Inc. (“CalPERS”), an important case that…
Continue Reading Supreme Court Declines to Apply Class Action Tolling and Upholds Dismissal of Individual Securities Cases Filed After Expiration of Statutes of Repose