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You can opt out of this issuer's forced arbitration
Bangor Savings Bank's agreement lets you reject arbitration and keep your right to sue — usually within a short window after opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…ER OF CLASS ACTION AND JURY TRIAL PROVISION, UNLESS YOU ARE A COVERED BORROWER PROTECTED BY THE MILITARY LENDING ACT OR UNLESS YOU PROMPTLY OPT OUT OF THE ARBITRATION AGREEMENT. THE AGREEMENT TO ARBITRATE REQUIRES THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AND RELIEF AGAINST US ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF, REPRESENTATIVE OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, AND (2) YOU MAY NOT BE ABLE TO HAVE ANY CLAIMS YOU HAVE AGAINST US RESOLVED BY A JURY OR IN A COURT OF LAW. 1. Definitions. The following terms in this Card Agreement have the meanings set forth below. The definitions of other terms not included below can be found within this Card Agreement. Account : Your credit card account, identified in your Pricing Disclosures. Authorized User : Any person w…”
Detected in the CFPB-filed cardholder agreements from Bangor Savings Bank. 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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“…es agreement to Unless prohibited by applicable law, and Agreement about? arbitrate Disputes. unless you opt out, you and we agree that you or we may elect to arbitrate or require arbitration of any Dispute as defined below. Who does the Arbitration You, us, and certain This Arbitration Agreement governs you and Agr…”
You can't band together with other cardholders in a class action.
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“…E READ THIS CARD AGREEMENT CAREFULLY. THIS CARD AGREEMENT IS SUBJECT TO MANDATORY ARBITRATION PURSUANT TO THE FEDERAL ARBITRATION ACT, AND INCLUDES A WAIVER OF CLASS ACTION AND JURY TRIAL PROVISION, UNLESS YOU ARE A COVERED BORROWER PROTECTED BY THE MILITARY LENDING ACT OR UNLESS YOU PROMPTLY OPT OUT OF THE ARBITR…”
You waive your right to have a dispute heard by a jury.
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“…E READ THIS CARD AGREEMENT CAREFULLY. THIS CARD AGREEMENT IS SUBJECT TO MANDATORY ARBITRATION PURSUANT TO THE FEDERAL ARBITRATION ACT, AND INCLUDES A WAIVER OF CLASS ACTION AND JURY TRIAL PROVISION, UNLESS YOU ARE A COVERED BORROWER PROTECTED BY THE MILITARY LENDING ACT OR UNLESS YOU PROMPTLY OPT OUT OF THE ARBITRATION AGREEMENT.…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…zed User s Card, close or suspend your existing Account, and/or require you to change other access credentials. 13. Changes to This Card Agreement We reserve the right to amend this Card Agreement or the Account at any time, in our sole discretion. We will notify you of the change if required by applicable law. If you have the right to reject a change to this Card Agreem…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…DES A WAIVER OF CLASS ACTION AND JURY TRIAL PROVISION, UNLESS YOU ARE A COVERED BORROWER PROTECTED BY THE MILITARY LENDING ACT OR UNLESS YOU PROMPTLY OPT OUT OF THE ARBITRATION AGREEMENT. THE AGREEMENT TO ARBITRATE REQUIRES THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WI…”