Tag Archives: Access To Civil Justice

Credit Card Issuers Shouldn’t Bully Customers Into Arbitration Clauses

by David Lazarus, Los Angeles Times

Creative Commons

[The Consumer Financial Protection Bureau] study found that as many as 80 million U.S. credit card customers are subject to arbitration clauses. The study showed that arbitration is much better for businesses than for consumers. Only 20% of cases resolved in consumers’ favor from 2010 to 2011 resulted in relief being paid, according to the study, while 93% of cases resolved in favor of companies led to payments. More strikingly, the study found that when consumers prevailed in arbitration, they were awarded an average of 57 cents for every dollar claimed. But when companies prevailed, they received 98 cents on the dollar. Read More ›