How Credit Card Companies Ensnare Consumers

e-mail address of the holder of a Citibank credit card to resume the arbitrator wrote that he suggested would have done legal work for the institutions, so-cial, national ….

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How Credit Card Companies Ensnare Consumers
Introduction…1
How Consumers Are Trapped by the Fine Print
How Credit Card Companies – and the National Arbitration Forum – Pursue Consumers with BMA
What’s Wrong with BMA?
Troy Cornock: Identity Theft Claims Fall on Deaf Ears
Chapter I: Data Show BMA Is Stacked Against Consumers…13
Data from Alabama Case Show Overwhelming Anti-Consumer Record of NAF 13
Use of NAF Yields Poor Results for Consumers
Public Efforts by NAF to Defend Arbitration
The National Arbitration Forum: Its Origins and History
Looking Closely: A Case Study of an Arbitrator-Turned Judge
Anastasiya Komorova: Lack of MBNA Account Does Not Appear to Matter 26
Chapter II: BMA Rife with Problems for Consumers …28
Arbitration Proceedings Are Secret
Arbitrators Have Financial Incentives to Favor Firms that Hire Them
Arbitration Often Costs Consumers More Than Court
Arbitration Lacks Civil Courts’ Safeguards to Ensure Fairness
Judge Rules Arbitration Awards Are a Denial of Due Process
Antitrust Allegations Leveled Against Credit Card Industry over Arbitration Agreements
Beth Plowman: Identity Theft in Nigeria Follows her Home
Chapter III: Congressional Action on BMA and Credit Cards…50
Javier Beltran: Lack of MBNA Account Does Not Dissuade NAF
Chapter IV: What Consumers Can Do to Fight BMA and Protect Themselves…56
Use Credit Cards with Care
Examine All Consumer Contracts for Arbitration Clauses
Put Up a Fight
Appendix A: A Brief History of the Move to BMA…58
Appendix B: Statistical Analysis…60
Appendix C: Legislation Pending in Congress…63

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