Do You Guys Accept Or Reject These Amended Arbitration Provisions?

CDmanFL | Dec 28, 2023 | 286 posts since 2019

Just received another one, this time from Popular Direct. Of course, this is in their best interest, but they spin it that it’s mutually beneficial. As a CD only customer, is it even worth the effort of writing a letter to reject it? I’m just so worn out by all the administrative headaches and hurdles that everyday brings, so curious to know your thoughts.

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me1004 | Dec 28, 2023 | 1,379 posts since 2010

Always reject those. You can still go to arbitration if both agree, and the bank or CU will certainly prefer it, because the arbitrators are pretty much beholden to them for the business and are known to give findings that are very beneficial to the business. That's why the businesses try to force you into arbitration.

That all you have is a CD makes no difference, you can't possibly know what your legal issue might be -- until it happens. And it certainly could be about the CD.

CDmanFL | Dec 28, 2023 | 286 posts since 2019

Thank you. I’ll reject it.

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