Tuesday, September 6, 2011

Judge King Denies (Again) Checking Overdraft Arbitration Agreements.



11th Circuit, 11th Schmircuit, that's what I always say.

And I see I'm not alone.

On Friday in the closely-watched Checking Overdraft litigation, Judge King has denied renewed motions to enforce bank arbitration agreements in the wake of the Supreme Court's Carlos Concepion decision, finding them both procedurally and substantively unconscionable.

Here's what plaintiff's counsel Aaron Podhurst had to say:

"WOOOOHOOO!!!!"

Ok, I'm paraphrasing; here were his exact words:
"Concepcion only said that you don’t knock out arbitration automatically,” Aaron Podhurst, the lead plaintiffs’ lawyer, said in an interview. “Concepcion said it’s a fact issue, so Judge King applied the facts. We have Judge King finding that in four different states, the arbitration agreements are unconscionable.” 
In other post-Labor Day news, Governor Scott has decided he really hates "regulations":
“Every dime a company spends on regulations is a dime they add to what you care about as a purchaser of a product or service,” he said. “You hear the stories. Why do we have to do this? What’s the benefit?
Exactly!

Why do I have to check for razor blades when I sell apples to the public schools?

Who can really keep track of the permissible amounts of rat droppings in Rice-A-Roni?

Why do we have to do this?  What's the benefit?

7 comments:

  1. Worst. Governor. Ever.

    ReplyDelete
  2. Yup-- were it not for those dozens of agencies and tens of thousands of pages in the Federal Register, little Eddie and Susan would be swallowing razor blades willy-nilly with their school lunches! Can't have that. Except, we wouldn't have that, because like most of the snarky received wisdom dispensed on this blog, it's a myth.

    http://en.wikipedia.org/wiki/Poisoned_candy_scare

    ReplyDelete
  3. BTW, if it turns out there are no acceptable levels of rat droppings in Rice-a-Roni I'm going to feel really ripped off.

    ReplyDelete
  4. Don't forget, gravity is only a theory.

    ReplyDelete
  5. Goodness, there's really much effective info here!

    ReplyDelete
  6. Very worthwhile data, thank you for your article.
    free online games

    ReplyDelete