Despite Concepcion, Arbitration Nixed In Overdraft MDL

Law360, New York (September 2, 2011, 4:30 PM EDT) -- A Florida federal judge on Thursday affirmed his ruling that bank defendants in multidistrict litigation over overdraft fees cannot enforce customer arbitration agreements, despite the U.S. Supreme Court’s Concepcion decision, which negated his original ruling.

U.S. District Judge James Lawrence King had previously ruled that the agreements were unenforceable because they contained class arbitration waivers that prevented customers from banding together to pursue relatively small claims against the banks in a group, effectively allowing the banks to avoid being held accountable for allegedly unfair overdraft charges....
To view the full article, register now.