How JPMorgan’s Plan to Send Customers to Arbitration Wound Up in Court
American Banker, June 21, 2019–Andy Peters (subscription)
Since Congress and President Trump killed a Consumer Financial Protection Bureau rule banning mandatory arbitration, many banks have reintroduced the practice. Unless customers contact their bank to opt out of arbitration, they cannot dispute issues through a lawsuit. Consumer advocacy groups have criticized arbitration as unfair to consumers.
