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Will Congress Kill Mandatory Arbitration In Consumer Finance Transactions?
In 2007, Congress introduced legislation, entitled the Arbitration Fairness Act of 2007, to amend the Federal Arbitration Act (“FAA”) to render unenforceable predispute arbitration provisions in, among other things,…
The Federal Reserve Board's Final Gift Card Rules for the CARD Act
Recently, the Federal Reserve Board announced the final rules that amend Regulation E to implement the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (“CARD Act”). The…
Senate to Consider ATM Fee Cap Among Proposed Amendments to Financial Reform Bill
The Senate is expected to soon consider placing a fifty-cent per transaction cap on ATM fees, as an amendment to the financial reform bill . The proposed amendment, introduced last week by Senator Tom Harkin (D-Iowa)…
FTC Releases Annual Report
Recently, Federal Trade Commission Chairman Jon Leibowitz released the FTC’s 2010 Annual Report, which focused largely on the FTC’s endeavors to defend financially distressed consumers and to spur competition during…
REMINDER: New Credit Card Regulations Take Effect Today; Gift and Debit Card Rules to Follow
Major provisions of a new law related to credit and gift cards take effect today. The Credit CARD Act, which was signed by President Obama in May 2009, marked the culmination of several legislative efforts to reform…