Basil Bannister, II v. E*TRADE Financial Holdings LLC, et al.

District Court, M.D. Pennsylvania·Decided July 21, 2026·No. 3:25-cv-01159·Unknown

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT OF PENNSYLVANIA

BASIL BANNISTER, II, : Civ. No. 3:25-CV-1159 : Plaintiff, : : v. : : (Magistrate Judge Carlson) : E*TRADE FINANCIAL HOLDINGS : LLC, et al., : : Defendants. :

MEMORANDUM OPINION AND ORDER I. Statement of Facts and of the Case The Federal Arbitration Act provides for the enforcement of arbitration clauses in contracts and states that: “A written provision in any maritime transaction or a contract evidencing a transaction involving commerce to settle by arbitration a controversy thereafter arising out of such contract or transaction, . . . , shall be valid, irrevocable, and enforceable . . . .” 9 U.S.C. § 2. However, arbitration rights are a function of the contractual arrangement between the parties. Therefore, the ability to compel arbitration in federal court often turns on the language used in the contract, and the parties’ reasonable understanding of that language. Such questions may be clear from the pleadings, or may require factual development. Thus, depending upon the clarity of the agreement, and the factual context of the case, the ability to enforce an arbitration clause in a contract may be decided as a matter of law on the pleadings;

as a matter of law based upon the undisputed material facts; or as a matter of fact following an evidentiary proceeding. This case, which comes before us for consideration of a motion to compel

arbitration, (Doc. 14), provides an illustrative example of how the procedural posture of a case may affect our ability to compel arbitration. This case is a pro se lawsuit brought by Basil Bannister, against E*Trade Financial Holdings, Morgan Stanley, and one of its employees. (Doc. 1). In his complaint, the plaintiff alleges that the

defendants violated federal banking laws by unreasonably refusing to release funds that he invested with them based upon their alleged inability to verify his identity. (Id.)

Bannister’s complaint did not attach the E*Trade online trading account agreement between the parties, but Bannister made the following statements in his complaint relating to that agreement, apparently in anticipation of a defense motion to compel arbitration:

4. Plaintiff was not aware of any binding arbitration agreements at the time of opening an online Etrade account on or about 12-17-2024.

5. Plaintiff has not agreed to any arbitration clauses or arbitration agreements. Further, Plaintiff had explicitly informed Etrade via email, within 30 days of account opening, that Plaintiff intended to seek legal relief and refuses any and all arbitration agreements, implied or otherwise. (Id. ¶¶ 4-5).

The defendants have, in fact, filed a motion to compel arbitration and brief. (Docs. 14. 15). This motion argues that, based solely upon the pleadings, it is undisputed that there is a binding arbitration agreement in this case and asks us to refer the case for arbitration pursuant to that agreement. Attached as an exhibit to the brief filed in support of this motion to compel arbitration E*Trade has submitted

what purports to be the online trading agreement executed by Bannister. (Doc. 15- 1). That agreement contains an arbitration provision. (Id. Section 12). Bannister opposes this motion to compel arbitration. (Docs. 16, 19). Liberally construing Bannister’s pro se pleadings, it appears that Bannister questions the

authenticity of the purported online trading agreement, asserting that “Plaintiff has herewith attached several exhibits with this motion showing that the alleged arbitration agreement (Doc. 15-1, Exhibit A) is not a true and correct representation

of what was displayed on Plaintiff’s screen at the time Plaintiff opened his online Etrade account.” (Doc. 16 ¶ 3). Bannister also insists that he never signed any arbitration agreement, alleging that: “Plaintiff, . . . , clearly states that he did not sign an arbitration agreement with Etrade and was unaware of any arbitration agreements

when he opened his account.” (Id.) Thus, despite E*Trade’s insistence that it is entitled to an order compelling arbitration based solely upon the pleadings and the undisputed facts, Bannister’s response identifies some factual disputes which call upon us to foray beyond the pleadings, determine the authenticity of the proffered arbitration agreement, and construe that document.

Given this factual dispute, and mindful of our obligation to liberally construe pro se pleadings, we do not find that this motion to compel arbitration can be granted at this time since there is an unresolved factual dispute regarding the authenticity of

arbitration provision of this contract. We will therefore deny this motion without prejudice to renewal on a more fulsome factual record after limited and narrowly tailored discovery on this motion has been undertaken. II. Discussion

A. The Federal Arbitration Act—Standard of Review The Federal Arbitration Act provides, in part, as follows: A written provision in any maritime transaction or a contract evidencing a transaction involving commerce to settle by arbitration a controversy thereafter arising out of such contract or transaction, or the refusal to perform the whole or any part thereof, or an agreement in writing to submit to arbitration an existing controversy arising out of such a contract, transaction, or refusal, shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the revocation of any contract.

9 U.S.C. § 2. The Act “creates a body of federal substantive law establishing and governing the duty to honor agreements to arbitrate disputes.” Century Indem. Co., v. Certain Underwriters at Lloyd’s London, 584 F.3d 513, 522 (3d Cir. 2009). Congress enacted the Federal Arbitration Act in order “to overrule the judiciary’s longstanding reluctance to enforce agreements to arbitrate and its refusal to put such agreements on the same footing as other contracts, and in the FAA expressed a strong federal policy in favor of resolving disputes through arbitration.” Id. (citations

omitted). The right to arbitration, however, is entirely a creature of contract. Because “[a]rbitration is a matter of contract between the parties,” a judicial mandate to arbitrate must be predicated upon the parties’ consent. Par-Knit Mills, Inc. v. Stockbridge Fabrics Co., Ltd., 636 F.2d 51, 54 (3d Cir. 1980). The Federal Arbitration Act (the “FAA”), 9 U.S.C. § 1, et seq., enables the enforcement of a contract to arbitrate, but requires that a court shall be “satisfied that the making of the agreement for arbitration . . . is not in issue” before it orders arbitration. Id. § 4.

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Basil Bannister, II v. E*TRADE Financial Holdings LLC, et al., (M.D. Pa. 2026).

Basil Bannister, II v. E*TRADE Financial Holdings LLC, et al. (Basil Bannister, II v. E*TRADE Financial Holdings LLC, et al.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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