Consumer Financial Services Contracts and Class Action Waivers

Crafting and Enforcing Waivers in Arbitration Agreements After AT&T Mobility v. Concepcion

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, August 31, 2011

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide attorneys with an analysis of the Supreme Court’s Concepcion ruling, its impact on consumer financial services litigation, and proposed legislative and regulatory responses. The panel will prepare attorneys to craft solid class action waivers and enforce waivers in litigation.

Description

The Supreme Court's recent AT&T Mobility v. Concepcion ruling, which upheld enforcement of class action waivers in arbitration agreements, is a potential game-changer for consumer financial services class action litigation.

Financial services companies should revisit existing arbitration agreements and carefully craft new contracts consistent with Concepcion. Litigators enforcing waiver provisions must advance their strongest arguments for enforcement in anticipation of creative arguments by plaintiffs to avoid them.

Finally, counsel must be diligent in staying abreast of legal developments in this area. Legislation has already been introduced in Congress to overturn Concepcion. The new Consumer Financial Protection Bureau is very likely to weigh in on this issue soon as well.

Listen as our authoritative panel of financial services litigators helps you navigate the changed and still changing landscape of arbitration agreements and class action waivers in consumer financial contracts.

READ MORE

Outline

  1. AT&T Mobility v. Concepcion
    1. Analysis of Court’s ruling
    2. Impact on class action waivers for consumer financial services contracts
    3. Legislative and regulatory responses
  2. Strategies for drafting class action arbitration waivers
    1. Principle of bilaterality or fairness
    2. Cost of arbitration
    3. Location of arbitration
    4. Choice-of-law clause
    5. Right of prevailing consumer to recover counsel fees
    6. Contractual fee-shifting clause
    7. Limited class action arbitration alternatives
  3. Best practices for enforcing class action waivers in court
    1. Reliance on case law enforcing waivers
    2. Class actions are just procedural devices
    3. Fee-shifting statutes
    4. Determining unconscionability at time of contract, not when lawsuit filed

Benefits

The panel will review these and other key questions:

  • Will all class action waivers now be enforced, or will Concepcion be more narrowly applied to arbitration provisions very similar to AT&T’s arbitration provisions?
  • What contractual language should practitioners include in consumer arbitration provisions to maximize enforceability in light of Concepcion?
  • What are the most effective defense strategies when a class action waiver agreement is challenged?
  • What should you expect to see from the Consumer Financial Protection Bureau in terms of regulating arbitration provisions in consumer financial services contracts?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Archis A. Parasharami
Archis A. Parasharami

Partner
Mayer Brown

Mr. Parasharami has experience litigating the enforceability of arbitration agreements, with a particular emphasis...  |  Read More

Ranlett, Kevin
Kevin S. Ranlett

Partner
Mayer Brown

Mr. Ranlett is a litigator in the firm’s Supreme Court & Appellate and Consumer Litigation & Class...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Audio

$297

Download

$297