Thursday, January 12, 2012

Bank of America, Big Banks Face Massive Credit Card Case

In the past, consumers who had concerns about charges or fees that had been added to their credit card accounts were able to take their lenders to court to dispute them. But thanks to a new ruling from the U.S. Supreme Court, this is typically no longer the case.

The U.S. Supreme Court recently ruled 8 to 1 against consumers’ right to take their credit lenders to court over disputed charges and fees added to their accounts, according to court documents. Instead, they will now almost always be required to take their claims to an arbitrator instead.

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