Seeking Alpha

AMEX, Citi, Discover win dismissal of card-related suit

  • The federal lawsuit had accused Amex (AXP -1.2%), Ciitgroup (C -0.7%), and Discover (DFS -0.6%) of colluding to adopt arbitration clauses preventing card holders from pursuing class action status in court.
  • District Judge William Pauley ruled the plaintiffs failed to show the three violated the Sherman Act.
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Comments (4)
  • robert1941
    , contributor
    Comments (6) | Send Message
    10 Apr 2014, 12:35 PM Reply Like
  • smdemunbrun
    , contributor
    Comments (6) | Send Message
    Government insists on a bailout of TBTF. Many citizens opposed. Now, Big Government keeps beating the crap out of the banks. Keeping the banks down is keeping the economy down, which keeps the jobs and the citizens down. Enough is enough. If they were that corrupt, why did you bail them out, Big Government?
    10 Apr 2014, 02:45 PM Reply Like
  • smdemunbrun
    , contributor
    Comments (6) | Send Message
    Big Government causes financial melt down by forcing banks to make unsafe loans. (Everyone deserves the American dream of home ownership...) Big Government bails out TBTF. Many citizens opposed. Big Government keeps beating the crap out of the banks (for years now). Recovery usually led by the Financials. Banks being held down by Big Government is preventing jobs from recovering and keeping economy from recovering. Adequate laws and safety measures are in place. Big Government needs to get out of the way.
    10 Apr 2014, 03:12 PM Reply Like
  • CassandraSees
    , contributor
    Comments (389) | Send Message
    If I understand the above information, this quick blurb has to do with customers being forced to agree with having their complaints heard by an arbitration group and denying them the right to take a valid claim into court - - The judge basically ruled against the customer (you and me)
    11 Apr 2014, 03:19 PM Reply Like
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