Lawsuit Attacks Credit Card Arbitration Of Disputes
Joseph DiStefano reports for the Philadelphia Inquirer on a lawsuit filed Thursday by 15 class action lawyers that contends that credit card issuers illegally conspired to force cardholders to submit disputes to arbitration instead of going to court.
The suit asks the court to stop the practice of requiring arbitration and to pay court costs and unspecified damages. The lawsuit contends that the arbitration services used by major lenders are far more likely to find in favor of the banks than of the consumers.
