Litigation
Aug. 20, 2011
Bank of America subsidiary settles case over arbitrations
Bank of America Corp.'s credit card subsidiary has agreed to pay $5 million and to make immediate changes to how its handles debt disputes to settle allegations that it engaged in sham arbitrations biased against consumers.
Daily Journal Staff Writer
Bank of America Corp.'s credit card subsidiary has agreed to pay $5 million and to change how it handles debt disputes to settle allegations that it engaged in sham arbitrations biased against consumers.
In a settlement agreement signed with San Francisco City Attorney Dennis J. Herrera Thursday, FIA Card Services agreed not to arbitrate California consumer credit card collection disputes for the...
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