Corporate & Securities Law

Second Circuit Finds Article 3 Standing in Antitrust Challenge to Credit Card Arbitration Provisions

By Matthew S. Wild

In Ross v. Bank of Am., N.A., No. 06-4755, 2008 WL 1836640 (2d Cir. Apr. 25, 2008), plaintiffs had alleged that the standard arbitration clauses  in their credit card agreements with several issuers was the product of a conspiracy in violation of the Section 1 of the Sherman Act.  The district court held that plaintiffs had no Article 3 standing because they had not yet initiated a dispute that triggered arbitration.  The Second Circuit reversed holding that the provision in their agreements alone was sufficient to confer standing.

Full post as published by Antitrust Commentary on May 16, 2008 (boomark / email).