Banks Hide Anti-Consumer Arbitration Clauses in Consumer Contracts

“A 2012 study by the Pew Charitable Trusts’ Safe Checking in the Electronic Age Project found 66 percent of checking account agreements at the nation’s largest banks had mandatory arbitration clauses tucked away inside. Even if the customer agreement allows you to use the court system to challenge your bank, you’ll probably still find some restrictions. Of the banks surveyed, a whopping 98 percent had clauses waiving a jury trial; 32 percent had clauses requiring customers to pay some or all legal losses, costs and expenses.”

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