State Bankers Association Says Arbitration A Better Course For Consumers

The Senate repealed a rule that made it easier for consumers to sue their bank or credit card company.  The Consumer Financial Protection Agency had implemented the rule that prevented financial companies from using arbitration rules to stop consumers from filing class action lawsuits.  South Dakota Bankers Association President Curt Everson says consumers didn’t usually come out ahead in class action court actions…..

Everson says individual consumers can get better results by using arbitration…

Arbitration procedures are included in the fine print of almost every credit card and loan agreement.