Yesterday I reported on FINRA’s enforcement action against Charles Schwab for inserting a class action waiver in its customer PDAAs. Today I hear that Schwab filed an action in federal court seeking a declaratory judgment that it’s class action waiver is lawful. Schwab offered to pay its customers’ arbitration filing fees pending the outcome of its suit. That still doesn’t redress customers’ rights to pursue their class action claims in the forum that FINRA has found to be the most appropriate forum for those claims — court. I will post links ASAP.
Last 5 posts by Jill Gross
- Updates on current and former FINRA Dispute Resolution executives - December 15th, 2014
- Symposium at Cardozo Asking (and perhaps Answering) "Is Mediation a Sleeping Beauty? - October 15th, 2014
- PIABA Releases Study Criticizing Lack of Diversity of FINRA Arbitrator Pool - October 7th, 2014
- Linda Fienberg To Retire from FINRA Dispute Resolution - October 7th, 2014
- Second Circuit Holds Forum Selection Clause Trumps FINRA Arbitration Requirement - August 21st, 2014