JP Morgan Chase Claims they Will Forego Future Consumer Arbitration
July 23rd, 2009. Published under Business Scams, Scams. No Comments.
According to an article on CreditCards.com JP Morgan Chase will no longer submit disputes to consumer arbitration and that they will re-evaluate the inclusion of arbitration in consumer contracts (aka, they see the writing on the wall concerning arbitration). I wonder how quickly the other loan and credit card companies will follow suit to avoid the scrutiny of the Federal Trade Commission and other government regulatory bodies? From CreditCards.com JPMorgan Chase , the nation’s largest issuer of credit cards, announced Wednesday that it no longer would submit disputes to arbitration and was reevaluating the inclusion of arbitration provisions in its consumer contracts. “Chase seeks to provide excellent service with integrity and respect for our customers,” said Paul Hartwick, a Chase spokesman. “As a result of recent events, we are taking swift and appropriate action.” – read the full story Now my biggest personal concern is why hasn’t to date the Federal Trade Commission ( FTC ) gone after companies such as Mann Bracken, Wolpoff and Abramson,