3rd Circ. Affirms Arbitration In CitiFinancial Loan Suit

Law360, New York (September 11, 2009, 12:24 PM EDT) -- A federal appeals court has upheld a decision to compel arbitration in a putative class action against CitiFinancial Services Inc. stemming from a loan agreement, saying a lower court was right in confirming an arbitration award favorable to the financial giant.

The U.S. Court of Appeals for the Third Circuit sided on Tuesday with CitiFinancial in the case, which also named Washington Mutual Bank as a defendant.

CitiFinancial had requested arbitration based on a loan agreement with attorney Mark Cronin, the borrower who initially brought the...
To view the full article, register now.