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You can opt out of this issuer's forced arbitration
deadline ≈ 30 days
Pinnacle Bank's agreement lets you reject arbitration and keep your right to sue — usually within 30 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…se read all of these materials carefully and keep them for future the Dispute, the names and addresses of all other Parties, the amount (J) Right to Reject Arbitration: If you do not want this Arbitration to pay the remaining amount due on the purchase. time, add, delete or change any term of this Agreement, unless the Contract to apply, you may reject it by mailing us a written notice your Account and are subject to unique pricing, grace periods, or reference. You understand and agree that this Agreement becomes law prohibits us from doing so. We will give you any notice and wait 27. Military Lending Act involved, and the specific relief requested. The Party that responds other terms we disclose from time to time for promotional and other To use this right, all of the following must be true: effective the first time you or any Authorized User activates a Card Certain members of the Arme…”
“…erstand and agree that we have no control over when a merchant shall be issued without a written opinion no later than 30 days from the (J) Right to Reject Arbitration: If you do not want this Arbitration initiates a refund. You agree that we have a reasonable amount of date any hearing is completed. Contract to apply, you may reject it by mailing us a written notice to time after we receive your refund to process it. Pinnacle Bank, 214 West College Street, Murfreesboro, TN 37130, (D) Standards and Law: The Parties agree that the Agreement and attention: Cardmember Services, that describes the Agreement and 27. Arbitration the Account involve interstate commerce and that this Arbitration your Account and states that you are rejecting the Arbitration Contract is governed by the FAA. The arbitrator shall apply applicable Contract. A rejection notice is effective only if it is signed by eac…”
Detected in the CFPB-filed cardholder agreements from Pinnacle 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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“…paragraph (D) is illegal, invalid, or unenforceable, the Parties agree or a Card. These Account Opening Disclosures include information The following arbitration provision, including its jury trial waiver, we received your letter. We will also tell you if we have already credit card account with Pinnacle Bank, Nashville…”
“…ed by a (E) Class Action Waiver: The Parties agree to give up: (i) any right incorporated into the Agreement. If you reject this Arbitration neutral, binding arbitration and not by a court of law, unless the they may have to bring a class action lawsuit or class arbitration, or to Contract, it will not affect any othe…”
You can't band together with other cardholders in a class action.
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“…e amount you without presenting the Card itself (such as for mail, telephone or from our offices in Tennessee. The interpretation and enforcement (E) Class Action Waiver: The Parties agree to give up: (i) any right COVENANTS, STIPULATIONS AND CONTRACTS SET think is wrong. Internet purchases), these transactions will b…”
“…e appropriate court is allowed, if necessary, to determine whether you that this Arbitration Contract shall be void in its entirety. 24. Waiver or we waived any right to bring or participate in a class action under (F) Jury Trial Waiver: If either Party chooses to have a Dispute sub paragraph (E); or (iii) any other aspect of your or our past, resol…”
You waive your right to have a dispute heard by a jury.
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“…unenforceable, the Parties agree or a Card. These Account Opening Disclosures include information The following arbitration provision, including its jury trial waiver, we received your letter. We will also tell you if we have already credit card account with Pinnacle Bank, Nashville, Tennessee, doing Information…”
“…u that this Arbitration Contract shall be void in its entirety. 24. Waiver or we waived any right to bring or participate in a class action under (F) Jury Trial Waiver: If either Party chooses to have a Dispute sub paragraph (E); or (iii) any other aspect of your or our past, resolved by arbitration, the Parties a…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…AL RIGHTS. IF YOU DO describe what you believe is wrong and why you believe it is a decision. At that point, if we think you owe an amount and you do change any other terms of your Account at any time, after we give you the Account involve interstate commerce and that this Arbitration by any of you or by any Authorized User. This promise includes (…”
“…ers, as the law your Fees and the Interest Charges for new Account transactions. We (8) you permanently reside outside the United States. allows. may change any other terms of your Account at any time, after we give you any notice and wait any time period required by law. Paying the Interest Charges and Fees charged in connection with a If you beli…”
“…st also tell us at once if you think someone used a card without your permission. You may either write us a M. CHANGE IN TERMS OF YOUR ACCOUNT We can change or add to letter or call us at the address and phone number shown on your statement. any terms of your account at any time. We do not guarantee that the fees Until you do, you may have to pay (up to $50.00) for purchases made by and the Annual Percentage Rates (APRs) on y…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…st to Please read all of these materials carefully and keep them for future the Dispute, the names and addresses of all other Parties, the amount (J) Right to Reject Arbitration: If you do not want this Arbitration to pay the remaining amount due on the purchase. time, add, delete or change any term of this Agreement, unle…”
“…award understand and agree that we have no control over when a merchant shall be issued without a written opinion no later than 30 days from the (J) Right to Reject Arbitration: If you do not want this Arbitration initiates a refund. You agree that we have a reasonable amount of date any hearing is completed. Contract to…”