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Government Sues 3 Biggest Credit Cards, Settles With 2

WASHINGTON, D.C. - (AP) The Justice Department on Monday sued the three largest U.S. credit card companies for anticompetitive practices and reached a proposed settlement with two of them, MasterCard and Visa. "We want to put more money in consumers' pockets, and by eliminating credit card companies'...

Class Action Waiver, Arbitration Agreements, And The American Express Litigation

By Sheppard Mullin Richter & Hampton LLP Excerpt: On February 1, 2012, the Second Circuit Court of Appeals decided In re American Express Merchants' Litigation , No. 06-1871-cv, (2d Cir. Feb. 1, 2012) (" AMEX III ") [ an enhanced version of this opinion is available to lexis.com...

Ballard Spahr LLP: Concepcion Mandates Individual Arbitration Even When Statutory Rights Cannot Be Vindicated, 3rd Circuit Holds

By the Consumer Financial Services Group The U.S. Supreme Court's decision in AT&T Mobility LLC v. Concepcion , 131 S. Ct. 1740 (2011) [ enhanced version available to lexis.com subscribers ], obligates courts to compel individual arbitration even where the plaintiff has proven that doing so...

U.S. High Court: Little Tucker Act Doesn't Waive Government's Sovereign Immunity

WASHINGTON, D.C. - (Mealey's) The Little Tucker Act doesn't waive the U.S. government's sovereign immunity when it comes to damages actions filed under the Fair Credit Reporting Act (FCRA), a unanimous U.S. Supreme Court ruled Nov. 13 ( United States of America v. James X. Bormes , No. 11...