Bank of America Drops Credit Card Dispute Arbitration Requirement

In an interesting development, Bank of America announced yesterday that it would remove its pre-dispute arbitration clause from its credit card agreements.  See AP report here.  This development cannot be a coincidence and surely is tied to the increasing Congressional scrutiny over mandatory consumer arbitration and the National Arbitration Forum’s decision to exit the consumer arbitration business.  It is only a matter of time before other major credit card issuers take similar steps.


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