Bank of America ends arbitration of credit card disputes

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Replied by Meya on topic Re: Bank of America ends arbitration of credit card disputes

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10 years 1 month ago #1

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Replied by Brian23 on topic Re: Bank of America ends arbitration of credit card disputes

I am just happy that a big player like BOA has stepped up to put an end to arbitration. That whole system really was a one-sided street in favor of the bank/debt collector.
10 years 1 month ago #2

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Replied by charonh on topic Re: Bank of America ends arbitration of credit card disputes

Basically what it means is before you did not have an option other than to go through arbitration for a dispute, whereas now, you may choose to go through arbitration, hire your own attorney, mediation, or pursue other legal avenues to work out the dispute. Arbitration usually catered to the business/organization, not the consumer. Now both players will have an even playing field if they have a dispute they want to resolve instead of being forced to go through arbitration.
10 years 1 month ago #3

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Replied by kdb030609 on topic Re: Bank of America ends arbitration of credit card disputes

Well that seems a little puzzling. What does that mean if there is a problem with your account intead of possibly going through arbitration ? How will we handle any problems? Usually banks don't change anything unless it benefits them. After all their bottom line is to make money.
10 years 1 month ago #4

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Replied by Meya on topic Re: Bank of America ends arbitration of credit card disputes

Exactly!
10 years 2 months ago #5

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Replied by charonh on topic Re: Bank of America ends arbitration of credit card disputes

Good move, maybe BOA being under federal regulation isn't so bad after all.
10 years 2 months ago #6

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10 years 2 months ago #7

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