National Consumers League

JPMorgan Chase wants to deny cardholders’ access to justice

June 10, 2019

Media contact: National Consumers League – Carol McKay, carolm@nclnet.org, (412) 945-3242 or Taun Sterling, tauns@nclnet.org, (202) 207-2832

Washington, DCThe National Consumers League (NCL), America’s pioneering consumer and worker advocacy organization, is calling on the leadership of JPMorgan Chase to reverse its decision to reinstate anti-consumer arbitration clauses affecting 47 million customers. The following statement is attributable to NCL Executive Director Sally Greenberg:

"Chase’s decision to turn back the clock to the late 2000’s is one that will deny tens of millions of cardholders the right to their day in court. Chase should be better than this. If requiring customers to go to arbitration is ‘faster, less expensive with better outcomes,’ as Chase claims, why require cardholders to opt out to avoid these arbitration clauses? The company should instead give customers some incentive to opt in to arbitration if they so choose. The truth is that companies like Chase know that by requiring customers to waive their rights to access the courts, corporate wrong-doing will go unchecked. We call on JPMorgan Chase to reverse its decision and do right by its customers."

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About the National Consumers League

The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.