Contract terms that indicate that COVID-19 would qualify as a force majeure event are references to a “pandemic,“ “epidemic“ and/or “disease.“ Alternatively, if the force majeure provision does not contain specific disease references, other more generic catch-all provisions pertaining to “disasters,“ “acts of God,“ “national emergencies,“ “government regulations“ or “acts beyond the control of the parties“ may be asserted to allege that COVID-19 is indeed a force majeure event.
Marc Schneider and Jason Anderson, both shareholders in Stradling's Litigation practice group, authored an article for the Orange County Business Journal entitled "Walking the High-Wire: Defending Against Liability for an Unauthorized Wire Transfer in California." The article goes into detail about the laws governing unauthorized wire transfers and the best practices to minimize the risk that a bank will be held liable for an unauthorized wire transfer.
Jason Anderson and Katie Beaudin recently authored an article on the Consumer Financial Protection Bureau’s (“CFPB”) new rule that bars companies overseen by the CFPB from inserting class action waivers in mandatory arbitration clauses that are included in their contracts with consumers. The rule will prohibit class action waivers in agreements relating to checking or savings accounts, credit cards, student loans, payday loans, some payment processing services, consumer reports and credit scores, prepaid cards, and consumer debt collection, among others.