CompuCredit Corporation, et al. v. Greenwood, et al. (U.S. Supreme Court Dkt. No. 10-948), is the latest case since AT&T Mobility v. Concepcion, 113 S.Ct. 1740 (2011) to be decided by the Supreme Court affecting arbitration agreements in consumer contracts. This case may again explore the scope of the Federal Arbitration Act (“FAA”) and provide further guidance regarding the availability of arbitration and class action waivers to businesses servicing consumers.
The statute at issue - the Credit Repair Reporting Act - regulates companies that assist consumers to improve their credit record, credit history or credit rating. But the impact of this decision may be much broader than this narrow statute. Following the Court’s decision in Concepcion (which upheld AT&T Mobility’s class action waiver in its arbitration provision), the Court may provide further guidance regarding application of the FAA and the ability of all companies serving consumers to utilize arbitration agreements and class action waivers.
