American Thrift & Finance Plan llc
Tulane-Gravier - New Orleans:
How Credit Unions Learned to Love Arbitration Clauses
Until recently, credit unions rarely used arbitration clauses, and were praised by consumer advocates for pro-customer practices. But credit unions have learned to embrace the use of arbitration clauses and now oppose the Consumer Protection Bureaus plan to rein them in.
Can the Consumer Ever Win? Arbitration Clauses in Nursing Homes
Somewhere in your cell phone or credit card contract, buried in the fine print is a mandatory arbitration clause which waives your right to a jury trial and instead binds you to arbitration if there is ever a dispute. You may not have known that you have waived your right to hold a corporation accountable through a jury trial and instead agreed to arbitration because you did not read the lengthy contract. Usually these sneaky arbitration clauses are buried somewhere in a tiny…
SEC's Aguilar Calls for End to Mandatory Arbitration Clauses
A top U.S. securities regulator is calling for an end to the mandatory arbitration clause found in contracts between financial advisers and their clients.
It’s about the members, remember?
This post is a continuation of “Your Mission Demands It”. We’re focusing on payday lending and how its very existence should sadden all credit union supporters. Your credit union members are everything to the institution. Literally. Without them, you’re not a credit union. You’re a credit. With no credit. So I think it is important …
Forced Arbitration: How Corporations Use the Fine Print to Bully Americans
Buried in your credit card agreement, your employment contract, or in the click through agreement in your online purchase, is almost certainly a forced arbitration clause designed to trick you out of your constitutional rights. Forced arbitration requires Americans to “agree” to surrender fundamental constitutional rights without ever realizing it. Most Americans believe forced arbitration is a kind of mediation or other voluntary process, but in…
How to Get Out of a Payday Loan — MagnifyMoney
The payday loan trap begins innocently enough. You’re low on cash, you’ve maxed out your credit cards, and none of your family or friends can loan you the money. Borrowing $250 from a payday lender seems like a logical solution. As long as the $250 plus a $37.50 fee is paid at the end of the two-week term – the time your next paycheck comes due – you’ll be debt free. No harm, no foul. Before you know it, you run out of…
Banks bury fees in the fine print
By Personal finance columnist From mandatory-arbitration clauses that waive jury trials to fees on empty envelopes and cash deposits, your bank is keeping disclosures tied to your checking accounts heavily cloaked in fine print and sometimes not in any print at all. “No one actually reads 65 pages of disclosures,” says Susan Weinstock, director of the Pew Charitable Trust’s Safe Checking in the Electronic Age Project…
The credit card clause that's 'just not fair'
A new CFPB study found that less than 7 percent of consumers know the rights they're giving up by signing a contract with an arbitration agreement.
