August 1, 2018 / 9:48 PM / 10 months ago

Judge rejects Wells Fargo's challenge to arbitrator's decision

A federal judge in Manhattan has rejected Wells Fargo Advisors’ bid to overturn an arbitrator’s decision allowing class arbitration of an employees’ overtime dispute, saying the bank has to live with the outcome after imposing arbitration on the employees.

Under the Federal Arbitration Act, courts may vacate arbitration decisions in only limited circumstances, typically if an arbitrator exceeds his authority or manifestly disregards the law, U.S. District Judge Valerie Caproni said in a decision on Tuesday. Since that did not occur in this case, Wells Fargo’s request to vacate the decision is denied, she said.

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