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Tag Archives: Arbitration

CFPB moves to end mandatory arbitration in financial services contracts

By TED CARTER The U.S. Consumer Financial Protection Bureau wants to bar banks, credit card companies and other financial products providers from forcing consumers to agree to arbitration to settle account disputes. Banks, unsurprisingly, oppose the change. “Consumers will get less and pay more,” said Rob Nichols, president and CEO of the American Bankers Association, or ABA. The Consumer Financial Protection ...

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Contractor dispute halts runway construction at Jackson-Evers

JACKSON — Mississippi’s busiest airport is down to one usable runway with a $13.3 million construction project at a standstill and eight months behind schedule. Completion of runway surfacing at Jackson-Medgar Wiley Evers International Airport was expected in June 2011, but a dispute with the contractor halted the work. Airport CEO Dirk Vanderleest says the contract with Rifenburg Construction Inc. ...

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Arbitration panel rules in dispute involving Callon

NATCHEZ — Callon Petroleum Company announced that the arbitration panel reviewing its claims against the joint interest owner in the Entrada Project has delivered its final decision. It ruled that the company was not entitled to recover any damages. Callon completed the abandonment of the Entrada Project in 2009, and said it does not expect to incur additional costs in ...

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DHS forming arbitration panels

WASHINGTON — The U.S. Department of Homeland Security (DHS) is establishing arbitration panels to resolve outstanding disputes over public assistance claims stemming from the aftermath of Hurricanes Katrina and Rita. Homeland Security Secretary Janet Napolitano announced the formation of the arbitration process following a congressional directive included in recently-enacted legislation. The panels are intended to expedite the resolution of disputed ...

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