Comments on: Bank of America no longer requires arbitration to settle disputes http://arbitrationhorrorstories.wordpress.com/2009/08/21/bank-of-america-no-longer-requires-arbitration-to-settle-disputes/ Tell us your story... Sat, 06 Aug 2011 05:12:14 +0000 hourly 1 http://wordpress.com/ By: ebragg http://arbitrationhorrorstories.wordpress.com/2009/08/21/bank-of-america-no-longer-requires-arbitration-to-settle-disputes/#comment-167 Mon, 31 Aug 2009 18:43:54 +0000 http://arbitrationhorrorstories.wordpress.com/?p=219#comment-167 That’s great info – thanks for sharing it. Do you know what other retail banking institutions offer in the way of dispute settlement? Is BoA slightly better than average now or are they still below the line?

]]> By: Frank Fitton http://arbitrationhorrorstories.wordpress.com/2009/08/21/bank-of-america-no-longer-requires-arbitration-to-settle-disputes/#comment-166 Mon, 31 Aug 2009 16:30:27 +0000 http://arbitrationhorrorstories.wordpress.com/?p=219#comment-166 This sounds like great news at first. When you examine it however, not so much. They still prohibit customers from banning together for class action lawsuits. So that means you would have to individually take them to court, for what amounts to really not much money in most cases. Its just not economically feasible.

What customers are left with is just settling the dispute with Bank of America directly. So instead of having a supposedly unbiased, haha, arbitrator between you and them. Now you have shrugged off that mask of being unbiased.

This is really not going to benefit consumers at all. If you do have a dispute with them, all I can say is good luck with that. Your going to need it.

Check out my blog about Bank of America’s lifting of mandatory arbitration at….. http://www.thedebtgazette.com/2009/08/bank-of-america-disputes/

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