The big selling point for arbitration has been that reducing legal costs by blocking customer lawsuits would result in lower prices for consumers. But that hasn’t been the case.
CFPB research shows that large banks are more likely to use arbitration clauses.
A case before the Supreme Court could make it harder for consumers to get their day in court if they’re wronged by a bank.
Three credit card issuers face claims that they colluded to force cardholders to resolve disputes through arbitration.
An appeals court in New Jersey says you may not be able to drag your credit card company into court if you have a beef with its policies. Instead, the company can turn the dispute over to arbitration, where they have much better chances of winning. It’s the second highest court to make such a ruling on
When you’re mad as heck at your credit card issuer, I bet you at least once thought about screaming into the phone …”I’ll see you in court!” I hate to prick your bubble, but it’s probably an empty threat. The Supreme Court ruled Tuesday that consumers who sign credit card agreements with arbitration clauses can’t