Can a claim on behalf of a class of plaintiffs be handled effectively and fairly in an arbitration proceeding? Anecdotal opinions about that subject are expressed freely, but they often have questionable evidentiary bases. More information that may contribute to this discussion now is being made available by arbitral organizations, arbitral awards and court decisions involving class arbitrations and by the Consumer Financial Protection Bureau (CFPB). The CFPB also has proposed rulemaking for future consumer financial transactions that could encourage class arbitrations, perhaps in contexts other than those under CFPB jurisdiction.
Please click here to continue reading the full text of this article
Originally published in the NEW YORK LAW JOURNAL, November 16, 2015
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.