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Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr
Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr
Book Chapters
This chapter focuses on the use of mandatory pre-dispute arbitration clauses in a subset of consumer contracts – those involving consumer finance and investor products and services. Arbitration clauses are pervasive in financial contracts – for credit cards, bank accounts, auto loans, broker-dealer services, and many others. In the wake of the recent financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank). Dodd-Frank authorises the new Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC) to prohibit or condition the use of arbitration clauses in consumer finance and investment contracts, …
Drafting The Arbitration Clause, Whitmore Gray
Drafting The Arbitration Clause, Whitmore Gray
Book Chapters
Providing in the contract for ways to resolve disputes that may arise presents a substantial challenge to the lawyer. In one sense this is what he or she is doing in general in contract drafting--anticipating misunderstandings or problems which experience indicates are likely to arise, and trying to provide clear answers in advance. When it comes to drafting a specific clause for the resolution of further disputes which may arise, however, many lawyers are at a substantial disadvantage. The task comes at the end of the substantive negotiations. The client does not want to focus on or draw the other …