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You can opt out of this issuer's forced arbitration
deadline ≈ 90 days
Banco Popular De Puerto Rico's agreement lets you reject arbitration and keep your right to sue — usually within 90 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…greement contains an Arbitration Provision immediately below. Within 90 days after the date we open your Disputes Account, you may elect to reject the Arbitration Provision by providing a written notice of your intention to do so to the address: Legal Division (745), Banco Popular de Puerto Rico, P.O. Box 362708, San Juan, Puerto Rico 00936- 2708. Unless you submit your rejection or to the extent permitted by applicable law, the Arbitration Provision will have a substantial impact on how any legal claims we have against each other are resolved if either you or we elect arbitration. For example, disputes subject to arbitration are decided by a neutral arbitrator and not a judge or jury. This Arbitration Provision will not apply to, or be enforceable against, covered borrowers under the protection of the Military Lending Act. This Arbitration Provision shall not preclude you from pursuing…”
Detected in the CFPB-filed cardholder agreements from Banco Popular De Puerto Rico. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
Forced arbitration
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…ion costs, attorneys fees, court costs and all other expenses of enforcing our rights under this Agreement. Arbitration of This Agreement contains an Arbitration Provision immediately below. Within 90 days after the date we open your Disputes Account, you may elect to reject the Arbitration Provision by providing a writ…”
“…xpenses of enforcing our rights under this Agreement. This content is labeled as SENSITIVE by Popular, Inc. Arbitration of This Agreement contains an Arbitration Provision immediately below. Within 90 days after the date we open your Disputes Account, you may elect to reject the Arbitration Provision by providing a writ…”
You can't band together with other cardholders in a class action.
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“…OR IN ARBITRATION, WHETHER AS A CLASS REPRESENTATIVE, CLASS MEMBER OR OTHERWISE, OR ACT AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN ARBITRATION (THE CLASS ACTION WAIVER ); (3) JOIN OR CONSOLIDATE CLAIM(S) WITH CLAIMS INVOLVING ANY OTHER PERSON OR (4) OBTAIN INFORMATION EXCEPT AS PROVIDED HEREIN. OTHER RIGHTS ARE MORE…”
You waive your right to have a dispute heard by a jury.
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“…rsuing or participating in a class action in court. ARBITRATION PROVISION IMPORTANT WAIVERS: IF YOU OR WE ELECT TO ARBITRATE A CLAIM, YOU AND WE BOTH WAIVE THE RIGHT TO: (1) HAVE A COURT OR A JURY DECIDE THE CLAIM; (2) PARTICIPATE IN A CLASS ACTION IN COURT OR IN ARBITRATION, WHETHER AS A CLASS REPRESENTATIVE, CLASS MEMBER OR OTHERWISE, OR ACT…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…erwise required by law, we may at our sole discretion change these terms, and modify or cancel the eligibility to use your Card with a Wallet service at any time, without notice. You cannot change these terms, but you can terminate them by removing your Card from the Wallet. We reserve the right to refuse any transaction for any reason. You expressly under…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…of This Agreement contains an Arbitration Provision immediately below. Within 90 days after the date we open your Disputes Account, you may elect to reject the Arbitration Provision by providing a written notice of your intention to do so to the address: Legal Division (745), Banco Popular de Puerto Rico, P.O. Box 36…”