Re: Help me send the W& rats Back Down the Sewer Hole
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Posted by Why Chat (209.240.205.61) on January 09, 2004 at 20:08:28:
In Reply to: Re: Help me send the W& rats Back Down the Sewer Hole posted by MBNA Misery on January 09, 2004 at 16:51:09:
This will get you started-- more later: www.tlpj.org/publications/Mandatory_Arbitration.pdf
(here is an excerpt)
Maryland's
highest court ruled that the precise lan-
guage of Chevy Chase's arbitration
clause made arbitration voluntary
rather than mandatory for consumers. Finally, parties may also be able to
beat arbitration in some settings by
making arguments under federal law.
While the FAA permits enforcement of
arbitration agreements, Congress is free
to override this policy and to prohibit
arbitration of claims under any partic-
ular federal statute. Consumers have
had some success arguing that the
Magnuson-Moss Warranty Act, 15
U.S.C. §§ 2301-2312, prohibits binding arbitration.
Press Release:
Opinion (PDF):
Wells v. Chevy Chase Bank (Maryland State Court)
This consumer class action seek damages for Chevy Chase Bank's breach of its promise to credit cardholders that their annual percentage rates would "never" exceed 24%. After TLPJ defeated Chevy Chase's attempt to force the case into mandatory arbitration, the trial court dismissed the suit on the ground that it is preempted by federal law (specifically, the Home Owners Loan Act and its implementing regulations). The Court of Appeals granted certiorari and argument was heard on November 7, 2002. Finally- here is a novel way to fight back. http://www.dltlaw.com/CM/Alerts/Alerts150.asp
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