The forced arbitration of credit card disputes has been abandoned by Bank of America after consumer pressure and publicity about the practice. The practice had become increasingly controversial until it came under fire from the public, regulators and Congress. The move follows on the heels of a decision by Chase last month to refrain from filing new arbitration claims. Consumers can now sue the bank if need by to reach agreement on credit card disputes.
Bank of America ends arbitration of credit card disputes
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Seeded on Sun Aug 23, 2009 2:52 PM
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