Search
 

Minnesota Lawsuit Shines Spotlight On Big Banks' Card Arbitration

A lawsuit filed by the Minnesota Attorney General Lori Swanson has brought to light a significant difference between credit union card issuers and other, usually larger, bank card issuers.

By David Morrison | Updated on August 04, 2009

A lawsuit filed by the Minnesota Attorney General Lori Swanson has brought to light a significant difference between credit union card issuers and other, usually larger, bank card issuers.

Swanson filed her lawsuit against the National Arbitration Forum, a for-profit firm widely used by large bank card issuers as an inexpensive tool to resolve disputes with cardholders. In the complaint, Swanson charged that, rather than being a neutral arbiter of disputes, the NAF had not disclosed that it had financial links to debt collection companies.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.