Matthew H. Adler Quoted in ConsumerAffairs Article, 'CFPB May Ban Arbitration Clauses in Financial Service Contracts'
Matthew H. Adler, Pepper partner, chair of the firm's International and Domestic Arbitration Practice Group and co-chair of the Commercial Litigation Practice Group, was quoted in the October 7, 2015 ConsumerAffairs article, "'CFPB May Ban Arbitration Clauses in Financial Service Contracts."
Matt Adler, partner and chair of the International and Domestic Arbitration Practice Group at Pepper Hamilton LLP says there are substantial Constitutional hurdles for the CFPB. He noted that Justice Scalia held for the majority of the American Express vs. Italian Colors case, writing: "No contrary Congressional command requires us to reject the waiver of class arbitration here."
Thus, said Adler, "Unless there is an amendment to the Federal Arbitration Act, the agency rule should not survive the recent wave of Supreme Court decisions upholding these waivers."
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