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Credit card issuers shouldn't bully customers into arbitration clauses
Credit card issuers shouldn't bully customers into arbitration clauses

Credit card companies say you can't sue them and you can't join other customers in suing them, and if you don't like it, tough. Federal regulators finally have reached the obvious conclusion: That's not fair. The Consumer Financial Protection Bureau has released a study showing that so-called arbitration clauses in credit card service contracts frequently prevent consumers from having a grievance adequately addressed. "These arbitration clauses restrict consumer relief in disputes with financial companies by limiting class actions that provide millions of dollars in redress each year," said Richard Cordray, director of the watchdog agency. "Now that...

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