Banks' Arbitration Clauses May Hurt Consumers: Report


Tens of millions of American consumers use consumer financial products or services governed by predispute arbitration clauses that may put them at an unfair disadvantage, suggests a United States Consumer Financial Protection Bureau report released last week.
In some cases, the arbitration clauses are mandatory, meaning that either side can mandate that any dispute arising between both parties be resolved in binding arbitration, and if one side sues the other in court, the defendant can invoke the arbitration clause.

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