Law Aficionado

Sheding Light in the Darkness.

NPR: Credit Card Arbitration Trumps Lawsuits, Court Says

"Consumers who sign credit card agreements that feature an arbitration clause cannot dispute fees or charges in court, the Supreme Court ruled Tuesday. The 8-to-1 decision drew immediate fire from consumer advocates."

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"Michael Calhoun, president of the Center for Responsible Lending, says the ruling gives companies that provide credit cards, student loans and car loans the ability to exact any fee, because consumers have no legal recourse."

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Lauren Saunders, the managing attorney at the National Consumer Law Center, says the arbitration process itself is unfair because the arbitrators have a financial incentive to rule against consumers.

"Who are you going to favor, the company that might send you more business, or the consumer who you’ll never see again?""

It saddens us to ask, is the system really that broken? and really that corrupt?

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