Torrence v. Nationwide Budget Finance

STEELMAN, Judge.

Where the arbitrator named in the arbitration agreement was no longer conducting arbitrations, the trial court erred in not appointing a substitute arbitrator pursuant to § 5 of the Federal Arbitration Act. Based upon the decisions of the United States Supreme Court in Concepcion and Italian Colors, the trial court erred in holding that the arbitration agreement was unconscionable and refusing to compel arbitration.

I. Factual and Procedural History

County Bank of Rehoboth Beach, Delaware (“County Bank”), an FDIC-insured Delaware bank, began offering short-term consumer loans to…