CFPB Studying Arbitration Clauses in Financial Services Agreements

New research from the Consumer Financial Protection Bureau shows that arbitration clauses are commonly used by large banks in credit card and checking account agreements, but almost 9 out of 10 clauses allow banks to prevent consumers from participating in … Continue reading

LowCards.com Weekly Credit Card Update—March 1, 2013

Visa Ends Ban on Retailer Discounts for Specific Cards Visa is giving its merchants more flexibility in offering discounts to their customers, and reversing restrictions that prevented retail partners from offering special deals to customers that paid with a specific bank's … Continue reading

Issuers Defend Arbitration Clauses in Credit Card Agreements

American Express, Citigroup and Discover went to court this week to defend charges that they acted together to make customers agree to settle credit card disputes through arbitration instead of class action lawsuits. The lawsuits were filed by customers who … Continue reading