Cardholders

Consumers Lose U.S. Appeal Over Credit Card Arbitration Clauses

NEW YORK Nov 19 The credit card industry won a big legal victory on Thursday as a federal appeals court rejected claims by a group of consumers that big issuers colluded to require that disputes be settled in arbitration rather than through class action lawsuits. By a 3-0 vote, the 2nd U.S. Circuit Court of Appeals in New York upheld a lower court ruling that American Express Co , Citigroup Inc …