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New rule bans restrictive arbitration clauses in bank contracts

Source: Connie Thompson, KOMO News

If you have a bank account, chances are your bank has a contract clause that requires you to go through arbitration if you feel you've been harmed by company practices.

As the CFBP's website video explains,

"By forcing people to go it alone or give up, companies can avoid accountability, and continue to harm people. Our new rule will stop companies from using arbitration clauses to deny people their day in court. It will ensure people who are harmed together, can take action together."

Read Full Article: New rule bans restrictive arbitration clauses in bank contracts