Most Credit Card, Bank Checking Arbitrations Restrict Consumers' Options

New research by the U.S. Consumer Financial Protection Bureau finds that arbitration clauses are commonly used by large banks in credit card and checking account agreements, but that roughly nine out of 10 dispute-resolution options prevent consumers from participating in class actions.

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GE CareCredit to Refund $34.1M for Deceptive 'Deferred Interest', CFPB Says

Consumers who signed up for a credit card to pay for dental, cosmetic, vision, or veterinary care through CareCredit, a division of General Electric, were provided little warning or explanations about “deferred interest” penalties and fees tied to these loans, the Consumer Financial Protection Bureau said Tuesday.

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