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You can opt out of this issuer's forced arbitration
Zions Bancorporation, National Association'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:
“…parties agree, a licensed attorney may be selected by the parties to conduct the arbitration without an Administrator. If NAF and JAMS both decline to administer arbitration of the Dispute, and if the parties are unable to mutually agree upon a licensed attorney to act as arbitrator without an Administrator, then either party may file a Lawsuit and move for an ADR Order. The arbitrator, howsoever appointed, shall have expertise in the subject matter of the Dispute. Venue for the arbitration proceeding shall be as stated elsewhere in this Agreement with respect to any judicial proceedings between the parties. Absent such a provision, the arbitration shall be conducted at a location determined by mutual agreement of the parties or by the Administrator if no agreement can be reached. The arbitrator shall apply the law of the state specified in the agreement giving rise to the Dispute. (a) A…”
“…n proceeding was commenced and all parties shall have full rights of appeal. This provision will not be Administrator. If NAF and JAMS both decline to administer arbitration of the Dispute, and if the parties deemed to limit or constrain Lender s or Bank s right of offset, to obtain provisional or ancillary are unable to mutually agree upon a licensed attorney to act as arbitrator without an Administrator, then remedies, to interplead funds in the event of a dispute, to exercise any security interest or lien Bank or either party may file a Lawsuit and move for an ADR Order. The arbitrator, howsoever appointed, shall Lender may hold in property, or to comply with legal process involving accounts or other property held have expertise in the subject matter of the Dispute. Venue for the arbitration proceeding shall be as by Bank or Lender. stated elsewhere in this Agreement with respect to a…”
“…parties agree, a licensed attorney may be selected by the parties to conduct the arbitration without an Administrator. If NAF and JAMS both decline to administer arbitration of the Dispute, and if the parties are unable to mutually agree upon a licensed attorney to act as arbitrator without an Administrator, then either party may file a Lawsuit and move for an Arbitration Order. The arbitrator, howsoever appointed, shall have expertise in the subject matter of the Dispute. Venue for the arbitration proceeding shall be as stated elsewhere in this Agreement with respect to any judicial proceedings between the parties. Absent such a provision, the arbitration shall be conducted at a location determined by mutual agreement of the parties or by the Administrator if no agreement can be reached. The arbitrator shall apply the law of the state specified in the agreement giving rise to the Disput…”
Detected in the CFPB-filed cardholder agreements from Zions Bancorporation, National Association. 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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“…itrate any claim, you will not have the right to a jury trial or the right to participate in a class action in court or in arbitration. The mandatory arbitration provisions do not apply to members of the Armed Forces and their dependents who are entitled to protection under the Military Lending Act, 10 U.S.C. ?? 987, or…”
“…ting without a jury, unless panel of three arbitrators. To allow for such appeal, if the award (including Administrator, arbitrator, and submitted to binding arbitration pursuant to Section 2 or judicial reference pursuant to Section 3. attorney s fees and costs) exceeds $200,000, the arbitrator will issue a written,…”
“…rights to a trial before a jury in connection with any Dispute. All Disputes shall be decided by a judge sitting without a jury, unless submitted to binding arbitration pursuant to Section 2 or judicial reference pursuant to Section 3. This Agreement includes an arbitration agreement, which will have a substantial ef…”
You can't band together with other cardholders in a class action.
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“…alling the number on the back of your Card. (z) DISPUTE RESOLUTION - READ CAREFULLY. This Dispute Resolution provision contains provisions for a jury waiver, a class action waiver, and a mandatory arbitration (or, as applicable, judicial reference) agreement. These provisions could have a substantial effect on you…”
“…about you that the Bank deems appropriate and to disclose to others credit information 9.5.3: Applicability of Dispute Resolution Provision. The Jury Waiver, Class Action Waiver, and about your Card Account and your performance under this Agreement. The Bank may ask credit bureaus Arbitration Agreement in the Di…”
“…es and payment information about this Agreement, you may contact us at 1-844-210-3601. 9.5.3: Applicability of Dispute Resolution Provision. The Jury Waiver, Class Action Waiver, and Arbitration Agreement in the Dispute Resolution Provision set forth in this Agreement do not apply to those covered under the MLA.…”
You waive your right to have a dispute heard by a jury.
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“…cial reference pursuant to Section (bb)(iii). (d) AGREEMENT FOR BINDING ARBITRATION OR JUDICIAL REFERENCE IF (A) A CONSUMER PARTY REQUESTS OR (B) THE JURY TRIAL WAIVER IS NOT ENFORCED. A party who (in context of the Dispute) is a consumer may timely elect to require that the Dispute be submitted as applicable to b…”
“…(A) IF A rules or fee schedule, please contact the Administrators as follows: JAMS: 1920 Main St., Suite 300, CONSUMER PARTY REQUESTS, OR (B) IF THE JURY TRIAL WAIVER IS NOT Irvine, CA 92614, Phone: (949) 224-1810, Fax: (949) 224-1818, E-mail: info@jamsadr.com, Website: ENFORCED. A party who (in context of the Di…”
“…-claim or counterclaim or any answer thereto, any amendment to any of the above, or a ruling or entry of an order that has the effect of invalidating jury trial waiver (any of the foregoing, an ADR Event ), then at any time prior to trial of the Dispute, but not later than 30 days after the ADR Event, any party sh…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…them within 15 days of receiving your Card by calling 1-866-749-7459 or writing to the address in the Card Carrier. (iii) Amending This Agreement. We may amend, add or delete any term of this Agreement at any time (each such revision, a Change ). Notice of a Change (a Change Notice ) may be enclosed with or appear on your printed Billing Statement or appear on…”
Slip up and your rate can jump to a much higher penalty APR.
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“…l vary with the market based on the Prime Rate. APR for Cash Advances Prime Rate + 16.99% This APR will vary with the market based on the Prime Rate. Penalty APR and When It None Applies Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest…”
“…o a new Premium product. Prime Rate + 19.99% to Prime Rate + 20.99% APR for Cash Advances This APR will vary with the market based on the Prime Rate. Penalty APR and When It None Applies Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest…”
“…o a new Premium product. APR for Cash Advances Prime Rate + 19.99% to Prime Rate + 20.99% This APR will vary with the market based on the Prime Rate. Penalty APR and When It None Applies Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…r, if the parties agree, a licensed attorney may be selected by the parties to conduct the arbitration without an Administrator. If NAF and JAMS both decline to administer arbitration of the Dispute, and if the parties are unable to mutually agree upon a licensed attorney to act as arbitrator without an Administrator, then eithe…”
“…without an proceeding was commenced and all parties shall have full rights of appeal. This provision will not be Administrator. If NAF and JAMS both decline to administer arbitration of the Dispute, and if the parties deemed to limit or constrain Lender s or Bank s right of offset, to obtain provisional or ancillary are unable…”