One Month Left to Opt Out of Chase Binding Arbitration
Consumer Reports cites Senior Fellow John Berlau on credit card regulations.
According to John Berlau, a senior fellow at the Competitive Enterprise Institute, an advocacy group that opposes overarching bans on binding arbitration, it should be up to consumers to decide how to proceed.
“All institutions should be able to say ‘this is our process,’ and consumers should be able to decide for themselves whether they object to the process or whether other things like the rewards points, terms, rates, or any of the other features of the credit product are more important to them,” Berlau says.