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Financial services report, fall 2012

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • October 4 2012

The Mars rover "Curiosity" stuck a perfect landing this quarter

Arbitrability of claims under Credit Repair Organizations Act

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • December 6 2011

The Supreme Court recently heard oral argument in CompuCredit Corp. v. Greenwood, U.S. No. 10-948, and will decide whether claims under the Credit Repair Organizations Act (“CROA”), 15 U.S.C. 1679 et seq., are subject to arbitration in light of the language in the Act providing that consumers have a “right to sue” credit repair organizations and that waivers by consumers “may not be enforced by any Federal or State court or any other person.”

Court decision highlights importance of post-purchase terms and conditions

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • January 15 2010

In its recent decision in DeFontes v. Dell, Inc., No. 2004-137, 2009 R.I. LEXIS 142 (R.I. Dec. 14, 2009), the Supreme Court of Rhode Island held that an arbitration clause, contained in terms and conditions provided to customers following purchase, was unenforceable because the customers were not given the opportunity to reject the terms and conditions by returning the purchased goods