Released: June 06, 2019
Chase: Arbitration’s ‘better’ for consumers. Nope, say researchers
Source: David Lazarus, L.A.Times
JPMorgan Chase is notifying more than 40 million credit card holders that from now on they’ll have to arbitrate any disputes, forgoing the option of filing a lawsuit or joining class-action suits.
Although an opt-out is possible (but difficult), this places Chase alongside many other businesses insisting arbitration is a better alternative for consumers than litigation.
A recent academic study confirms what consumer advocates have been saying for years: Mandatory arbitration is a rigged system — rigged, that is, in favor of businesses.
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