Posts Tagged ‘Banks’


What Dakinikat said about Stealing Home:

Read Full Post »

This is good news. So it’s voluntary; for now, this will help. If you have ever looked at the fine print on the arbitration clauses of your credit card, or tried to win a dispute, you’ll realize you signed your right to complain over to the arbiter that the bank chooses. Thank you, Representative Kucinch, and the House Domestic Policy Subcommittee! I don’t know how many of us can get a new credit card right now, or if any of these banks are really issuing new ones, but the change in the arbitration clause is worth planning around if you are in the market. Don’t give up your rights!

Kucinich Announces Credit Cards That Don’t Cost You Your Legal Rights

Kucinich 111th1

Washington, Dec 17 –

Congressman Dennis Kucinich (D-OH) released the following statement:

“This holiday shopping season, consumers have the choice of using credit cards that don’t take away their legal rights.  Until now, all major banks have required their customers – through provisions hidden in the fine print of credit card agreements — to give up their constitutional right to their day in court. Those agreements have required customers to settle their disputes through a process called arbitration.  In July, the House Domestic Policy Subcommittee, of which I am the Chairman, held a hearing in which we showed that mandatory arbitration is arbitrary, and that results depend more on the arbitrator to whom the case is assigned than on the facts or the law that applies.

“Since that hearing, my staff has been communicating with all the major banks, and today I can announce that six of those banks will not have arbitration clauses in their new credit card agreements.   Those banks are JPMorganChase, CapitalOne, PNC Bank, TD Bank, Bank of America and Regions Bank.  I want to congratulate those banks for their decisions.

“I particularly want to congratulate JPMorganChase and CapitalOne.  Those two banks will be issuing new credit card agreements that also allow their customers the right to a jury trial and the right to participate in a class action.  I strongly encourage the other banks to follow their lead.

“For the first time in years, you can choose what credit card to use by considering all its terms—interest rate, minimum payment, fees, rewards, and whether it requires you to give up your right to use the courts that our state and federal Constitutions have created for you.”


Contact: Nathan White (202)225-5871

Now, if we can just get rid of the usurious rates. Debt load is a magical thing. If it’s lower, we can breath a little life into the economy, and the banks get a write off on an artificial loan they should have never had.

Read Full Post »

An interesting article on the equal pay issue. The diagrams show clearly just how much our overall wages haven’t changed, and women still make less: (more…)

Read Full Post »

%d bloggers like this: