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0 pointsen4bz5y ago0 comments

If they go through arbitration they'll end up like DoorDash [1].

[1] https://www.latimes.com/business/story/2020-02-11/doordash-a...

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DoorDash had an arbitration clause that said they would pay the filing fee. Robinhood doesn't have that in their arbitration clause. As far as I can tell, they don't specify who pays but it's possible the arbitration agency (FINRA) has some law governing that I guess.

If not, it's probably safe to assume the consumer has to pay the fee.

jonwachob915y ago

Remember when Robinhood tried opening checking accounts the first time and made a bunch of claims about SIPC insured and what not, and then the SIPC was all like "We told Robinhood we don't insure checking accounts", and then the FDIC was all like "Robinhood never talked to us about opening, or insuring, any checking accounts"...

Seems like something any financial lawyer would have checked the box on prior to making a HUGE announcement, so it's pretty plausible that Robinhood has no ideas about FINRA's laws about arbitration...

[1] https://www.forbes.com/sites/ronshevlin/2019/01/02/the-robin...

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Nacdor5y ago

If not, it's probably safe to assume the consumer has to pay the fee.

jonwachob915y ago

[1] https://www.forbes.com/sites/ronshevlin/2019/01/02/the-robin...

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