Private Dispute Resolution in the Banking Industry

Erik Moller, Elizabeth S. Rolph, Patricia A. Ebener

ResearchPublished 1993

This monograph examines the use of private alternative dispute resolution (private ADR) by firms in the banking industry in response to a perceived liability crisis in the 1980's. The firms tested a procedure with which they were familiar, contractual arbitration provisions, initially in those contracts which were the source of the greatest liability concern and the most litigation cost. The firms stated that they were most interested in reducing the likelihood of punitive damages and eliminating the unpredictability of juries. Interviews indicate satisfaction with the private ADR program. Data collected from one firm show that the number of new cases filed against that firm in those areas, and the expected liability from these cases, declined after the introduction of the provisions. However, the actual funds paid for verdicts and settlements in these areas increased. Despite these conflicting results, the future for private ADR appears to be bright in this industry.

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  • Copyright: RAND Corporation
  • Availability: Available
  • Year: 1993
  • Print Format: Paperback
  • Paperback Pages: 62
  • Paperback Price: $13.00
  • Paperback ISBN/EAN: 978-0-8330-1469-6
  • Document Number: MR-259-ICJ

Citation

RAND Style Manual
Moller, Erik, Elizabeth S. Rolph, and Patricia A. Ebener, Private Dispute Resolution in the Banking Industry, RAND Corporation, MR-259-ICJ, 1993. As of September 5, 2024: https://www.rand.org/pubs/monograph_reports/MR259.html
Chicago Manual of Style
Moller, Erik, Elizabeth S. Rolph, and Patricia A. Ebener, Private Dispute Resolution in the Banking Industry. Santa Monica, CA: RAND Corporation, 1993. https://www.rand.org/pubs/monograph_reports/MR259.html. Also available in print form.
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