{"id":32443,"date":"2009-08-16T12:16:23","date_gmt":"2009-08-16T12:16:23","guid":{"rendered":"http:\/\/localhost:8888\/wordpress\/another_unfair_mandatory_arbit\/"},"modified":"2024-12-17T15:57:42","modified_gmt":"2024-12-17T20:57:42","slug":"another-unfair-mandatory-arbit","status":"publish","type":"post","link":"https:\/\/www.finchmccranie.com\/blog\/another-unfair-mandatory-arbit\/","title":{"rendered":"Another Unfair Mandatory Arbitration Clause Bites The Dust"},"content":{"rendered":"<p>Another bank with a large presence in Georgia has bowed to pressure from consumers and consumer advocacy groups and abandoned the unfair practice of mandatory arbitration. Bank of America Corp. announced  it will stop requiring that disputes with its credit card holders and banking and lending customers be settled by binding arbitration.<\/p>\n<p>As we have written before, many consumers are unaware that card agreements typically include a clause that waives a card holder&#8217;s right to sue. Lenders instead use arbitration to go after delinquent accounts and employ arbitrators to fight disputes with their customers. These so called \u201cneutral arbitrators\u201d have been shown to be biased in favor of the large corporations and banks which frequently use their services.<\/p>\n<p>In fact, last month the biggest arbitration group, the National Arbitration Forum in St. Louis Park, Minn., agreed to stop arbitrating credit card disputes after being sued by Minnesota Attorney General Lori Swanson, who alleged violations of state consumer fraud, deceptive trade practices and false advertising laws by hiding financial ties to collection agencies and credit card companies.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.finchmccranie.com\/blog\/another-unfair-mandatory-arbit\/\"  title=\"Continue Reading Another Unfair Mandatory Arbitration Clause Bites The Dust\" class=\"more-link\">Continue reading<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Another bank with a large presence in Georgia has bowed to pressure from consumers and consumer advocacy groups and abandoned the unfair practice of mandatory arbitration. Bank of America Corp. announced it will stop requiring that disputes with its credit card holders and banking and lending customers be settled by binding arbitration. As we have [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[44],"class_list":["post-32443","post","type-post","status-publish","format-standard","hentry","category-personal-injury-wrongful-death","tag-personal-injury"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Another Unfair Mandatory Arbitration Clause Bites The Dust &#8212; Trial Attorney Blog &#8212; August 16, 2009<\/title>\n<meta name=\"description\" content=\"Another bank with a large presence in Georgia has bowed to pressure from consumers and consumer advocacy groups and abandoned the unfair practice of &#8212; August 16, 2009\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finchmccranie.com\/blog\/another-unfair-mandatory-arbit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Another Unfair Mandatory Arbitration Clause Bites The Dust &#8212; 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