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SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

Super Contributor

SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

Message 1 of 5
4 REPLIES
Frequent Contributor

Re: SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

#1. Shouldn't this be in "credit in the news" section?

#2. I can't read the article because I need to subscribe to that website?
As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000



Message 2 of 5
Super Contributor

Re: SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

Message 3 of 5
Super Contributor

Re: SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

Here's another link to the story, no subscription required:

http://www.forbes.com/sites/danielfisher/2013/06/27/this-years-biggest-business-victories-at-the-sup...
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 5
Blogger

Re: SCOTUS on Merchants class action vs. Amex - Arbitration is binding.

The ruling was as expected IMO. It is becoming increasingly common these days that service providers include a clause in the contract agreement that prohibits class-action lawsuits, allowing arbitration as the only option to resolve legal matters. An opposite decision would have made a major precedent and potentially disrupt the legal battlefield between service providers and consumers in determining the options for the consumers to sue against providers. It is sad that class action lawsuits are getting legally blocked by the companies...

Message 5 of 5