As promised, here is Part 2 of the article on the Class Action Fairness Act of 2005, written McGlinchey partner (and CAFA Law Blog co-executive editor) Anthony Rollo and McGlinchey associate (and CAFA Law Blog Associate Editor) Gabe Crowson, which appears in Volume 8, Issue 18 (March 23, 2005) of the Consumer Financial Services Law Report, published by LPR Publications. The article, the second of a two part overview of CAFA, is entitled “The Newly Enacted Class Action Fairness Act of 2005,” and looks at various procedural aspects of the Act, including the “Consumer Bill of Rights” contained in CAFA, and the limitations imposed on coupon settlements and attorney’s fees, a cornerstone of CAFA. Part 2 also focuses on the regulatory reporting requirements related to settlements of class actions required by CAFA and some of the possible pitfalls relative thereto, and the reports to the federal Congress be given by the Judicial Conference of the United States to evaluate the effects of CAFA on the federal judiciary, and to allow our elected officials to determine whether CAFA is meeting the express Congressional intent.
Part 1, the subject of an earlier post on the CAFA Law Blog, focused primarily on the jurisdictional components of the Act, including a discussion of the minimal diversity standards, the new liberalized removal rules and appeals of removal decisions.
The full text of Part 2 of “The Newly Enacted Class Action Fairness Act of 2005” is available on the CAFA Law Blog, and is published with the express permission of the Consumer Financial Services Law Report and LPR Publications, Inc. The article is copyright 2005 by LPR, all rights reserved, and is reprinted with permission.