Bank of America Drops Mandatory Arbitration Clause
By Sam Glover
Bank of America just announced that it will no longer require consumers to arbitrate disputes concerning credit cards and other consumer accounts. Great news! The collapse of pre-dispute, mandatory binding arbitration continues. Hopefully other credit grantors will follow suit.
Bank of America Says No Mas To Arbitration Bank of America Corp. today said it is dropping a rule that forces customers into arbitration if they have a dispute about their credit-card or certain other consumer-related accounts.
Recently Published Scholarship: Arbitration University of Michigan Journal of Law Reform Volume 41, Issue 4, Summer 2008 Symposium: Empirical Studies of Mandatory Arbitration Omri Ben-Shahar, Introduction, How Bad Are Mandatory Arbitration Terms?, p...
The Beginning of the End of Mandatory Arbitration Deep in the White House's recent proposal on the overhaul of the financial regulatory system are some critiques of the mandatory-arbitration system. We look at some pros and cons of scrapping mandatory arbitration, at least in regard to financial-services.