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You can opt out of this issuer's forced arbitration
deadline ≈ 60 days
Bank Of Missouri, The's agreement lets you reject arbitration and keep your right to sue — usually within 60 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…wever, if the Class Action Waiver is deemed unenforceable, then this entire Arbitration Agreement shall be void and of no force and effect. You may reject this Provision in its entirety (and any subsequent amendment), in which case only a court may be used to resolve any dispute or Claim. Rejection will not affect any other aspect of the Agreement. To reject this Provision in its entirety, you must notify us at 1-800-719-5467 or mail a notice within sixty (60) days after you open your Account or we first provide you with a right to reject this Provision. If you notify us by telephone, you must speak with a live representative and provide your name, address and Account Number. If you notify us by mail, you must include your name, address and Account Number and it must be mailed to our servicer at: Concora Credit Inc., Attn: Arbitration Provision, P.O. Box 4477, Beaverton, Oregon 97076. Th…”
“…wever, if the Class Action Waiver is deemed unenforceable, then this entire Arbitration Agreement shall be void and of no force and effect. You may reject this provision, in which case only a court may be used to resolve any dispute or claim. Rejection will not affect any other aspect of the Agreement. To reject this Provision, you must notify us at 1-800-719-5467 or mail a notice within sixty (60) days after you open your Account or we first provide you with a right to reject this Provision. If you notify us by telephone, you must speak with a live representative and provide your name, address and Account Number. If you notify us by mail, you must include your name, address and Account Number and it must be mailed to our servicer at: Concora Credit Inc., Attn: Arbitration Provision, P.O. Box 4477, Beaverton, Oregon 97076. These are the only ways you can reject this Provision. YOUR BILLI…”
“…titute another widely recognized arbitration organization that uses a similar code of procedure and is mutually acceptable to the parties.) Right To Reject Arbitration You may reject this Arbitration Provision. If you do so, neither you nor we will have the right to engage in arbitration. Rejecting this Arbitration Provision will have no effect on any of the other provisions in this Agreement. To reject this Arbitration Provision, you must send us your written rejection within 60 days after we open your Account, or 60 days after any change in terms that affects this Arbitration Provision, to Account Services Dispute Resolution, P.O. Box 105096, Atlanta, GA 30348-5096; ATTN: Consumer Credit Arbitration. In your letter, you must give us the following information: Name, Address and Account number. The right to reject granted here applies solely to this Arbitration Provision, and not to any…”
Detected in the CFPB-filed cardholder agreements from Bank Of Missouri, The. 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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“…ER THE FEDERAL MILITARY LENDING ACT, YOU MAY CONTACT US AT 1-800-719-5467. This Arbitration of Disputes Provision ( Provision ) replaces any existing arbitration provision and will stay in force (i.e., survive) no matter what happens to your Account, including the closing of your Account, and the sale or transfer of you…”
“…HER YOU ARE ENTITLED TO PROTECTION UNDER THE FEDERAL MILITARY LENDING ACT, YOU MAY CONTACT US AT 1-800-719-5467. This provision replaces any existing arbitration provision with us and will stay in force no matter what happens to your Account, including the closing of your Account, and the sale or transfer of your Accoun…”
“…Disputed Payments-Postdated Checks, Restrictive Endorsement Checks and Other Disputed or Qualified Payments, Changes in Terms, Assignment; Transfer, Arbitration Provision and Billing Rights Notice restrict or reduce your rights. MILITARY LENDING ACT DISCLOSURE: Federal law provides important protections to members of t…”
You can't band together with other cardholders in a class action.
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“…L BE SUBJECT TO INDIVIDUAL ARBITRATION. INDIVIDUAL ARBITRATION MEANS THAT: (1) NEITHER A COURT NOR A JURY WILL RESOLVE ANY SUCH DISPUTE; (2) YOU WILL NOT BE ABLE TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING; (3) LESS INFORMATION WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED. THIS ARBITRATION OF DISPUTES PROVISION D…”
“…HE OTHER HAND, WILL BE SUBJECT TO INDIVIDUAL ARBITRATION. THIS MEANS THAT: (1) NEITHER A COURT NOR A JURY WILL RESOLVE ANY SUCH DISPUTE; (2) YOU WILL NOT BE ABLE TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING; (3) LESS INFORMATION WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED. THIS ARBITRATION OF DISPUTES PROVISION D…”
“…ithout regard to any termination or cancellation of your Account. If any portion of this Arbitration Provision (other than the provisions prohibiting class-wide arbitration, joinder, or consolidation) is deemed invalid or unenforceable under the FAA, it will not invalidate the remaining portions of this Arbitration Provi…”
You waive your right to have a dispute heard by a jury.
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“…sent of all parties to the arbitration, by any Administrator that has in place a formal or informal policy that purports to override the Class Action Waiver. f. Court and Jury Trials Prohibited; Other Limitations on Legal Rights: IF YOU OR WE ELECT TO ARBITRATE A CLAIM, YOU AND WE WILL NOT HAVE THE RIGHT TO PURSUE THAT CLAI…”
“…solve Claims (defined below) through binding arbitration (except for Claims brought by either of us in small claims court on an individual basis) and waives any right to a jury trial or to participate in a class action or other consolidated proceeding. If you would like to opt-out of this Arbitration Provision, you may do so…”
“…part (1) of this sub-paragraph or otherwise, it will be heard by a judge sitting without a jury on an individual, not class action basis, unless this jury trial and/or class action waiver is prohibited by law. l) If your application is approved, your cardholder agreement will contain a binding arbitration provision. Upon the effectiv…”
“No interest if paid in full” — miss the deadline and you're billed interest back to day one.
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“…odified by you from time to time, when due. The amount of your Automatic Payment Plan payment may vary if you make additional payments. If you have a Deferred Interest Plan and you enroll in our Automatic Payment Plan, you will need to make one or more additional payments by mail or by phone to avoid interest. The M…”
“…ance, as modified by you from time to time. The amount of your Automatic Payment Plan payment may vary if you make additional payments. If you have a Deferred Interest Plan and you enroll in our Automatic Payment Plan, you will need to make one or more additional payments by mail or by phone to avoid interest. The m…”
“…onthly Minimum Payment, we will apply these excess amounts in the order required by applicable law. During the last two Billing Cycles of a 15031-001 deferred interest period, if you have an outstanding deferred interest balance, we will apply these excess amounts to the deferred interest promotion balance. Special…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…Account, and retrieving your Card, to the extent permitted by applicable laws. Change of Terms. Subject to the limitations of applicable law, we may, at any time, change or remove any of the terms and conditions of, or add new terms or conditions to, this Agreement. If required by applicable law, we will mail written notice of such a change to…”
“…f law. You may notify us of changes by writing to us at Account Services, P.O. Box 105555, Atlanta, GA 30348-5555 or by calling us at 1-855-802-5572. CHANGES IN TERMS We may, at any time in accordance with this Agreement and subject to the requirements of applicable law: (i) terminate this Agreement; (ii) terminate your right to make…”
“…orts. This could include negative information if you do not comply with the terms of this Agreement. Your Contract With Us Amendment or Modification. At any time and subject to applicable law, we may change or delete any term of, or add new terms to, this Agreement, including without limitation the Interest Charge, Annual Percentage Rate, Fees, Total Minimum Payment Due amount, and the Arbitra…”
Slip up and your rate can jump to a much higher penalty APR.
Jumps to ~35.99%
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“…CE words we, us, and our refer to The Bank of Missouri, St. Robert, and how to exercise those rights is provided at the end of this How long will the Penalty APR apply?: If document. Missouri our successors and assigns. The words Card or Cards How We Will Calculate Your Balance: We use a method called refer to…”
“…s are accurate as of May 2024. TRUTH IN LENDING ACT DISCLOSURES Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases 35.99% Penalty APR and When it Applies 35.99% This APR may be applied to your account if you: (1) Make a late payment; or (2) Make a payment that is returned. How Long…”
“…ates and Interest Charges Annual Percentage Rate (APR) for Purchases 0% to 36%. Some Purchase APRs will vary with the market based on the Prime Rate. Penalty APR and When it Applies 29.99% This APR may be applied to your account if you: (1) Make a late payment; or (2) Make a payment that is returned. How Long…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…effect. However, if the Class Action Waiver is deemed unenforceable, then this entire Arbitration Agreement shall be void and of no force and effect. You may reject this Provision in its entirety (and any subsequent amendment), in which case only a court may be used to resolve any dispute or Claim. Rejection will…”
“…effect. However, if the Class Action Waiver is deemed unenforceable, then this entire Arbitration Agreement shall be void and of no force and effect. You may reject this provision, in which case only a court may be used to resolve any dispute or claim. Rejection will not affect any other aspect of the Agreement.…”
“…e may substitute another widely recognized arbitration organization that uses a similar code of procedure and is mutually acceptable to the parties.) Right To Reject Arbitration You may reject this Arbitration Provision. If you do so, neither you nor we will have the right to engage in arbitration. Rejecting this Arbitrati…”