Business groups today sued the Consumer Finance Protection Bureau (CFPB) in federal court seeking an injunction against the CFPB’s Arbitration Rule, which would nullify arbitration agreement prohibitions of class actions.
Unless blocked, the Arbitration Rule mandates compliance for pre-dispute arbitration agreements entered into on or after March 19, 2018.
Hat Tip to Mark Kantor and Chris Drahozal.
Friday, September 29, 2017
Wednesday, September 13, 2017
Arbitration Speedier Than Litigation, Says AAA Study
The American Arbitration Association says "on average, U.S. district court cases took more than 12 months longer to get to trial than cases adjudicated by arbitration (24.2 months vs 11.6 months)." While one can always question whether the litigated cases studied are similar to the arbitration cases studied, this data fits the received wisdom from earlier data that arbitration tends to be quicker than litigation. This study is part of a broader website of AAA resources on arbitration.
Subscribe to:
Posts (Atom)