The Wall Street Journal reported yesterday that Bank of America will no longer require mandatory arbitration on customers’ credit card disputes (hat tip to our blog contributor Glen M. Wilkerson). Find Bank of America’s letter to Congressman Dennis Kucinich here and press release here. Back in July, JPMorgan Chase suspended mandatory arbitration as well.
In case you missed the recent developments in consumer arbitration, here are some of our posts:
- Testimony from the U.S. Congress Hearing on the Misuse of Arbitration to Collect Consumer Debts (July 24)
- The American Arbitration Association Confirms Today That It Supends Arbitration of Consumer Debt Collection (July 23)
- National Arbitration Forum Settles with Minnesota’s Attorney General (July 20)
- U.S. Congress Hearing on the Misuse of Arbitration to Collect Consumer Debts (July 20)
- National Arbitration Forum Sued by the Minnesota Attorney General (July 16)
- Law Journal Article: “Civil Jury Trials R.I.P.? Can it Actually Happen in America?” and the Federal Arbitration Act (July 4)
- U.S. Dispute Resolution Legislation: Update (June 23)
- National Arbitration Forum’s Response to NPR Arbitration Story (June 17)
- Employment and Consumer Arbitration: NPR Article (June 10)
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