Harris, Blumenthal to JPMorgan Chase CEO Jamie Dimon: Forced Arbitration is Unfair and Unjust
June 7, 2019
U.S. Senators Kamala D. Harris (D-CA) and Richard Blumenthal (D-CT) on Friday sent a letter to JPMorgan Chase Chairman and Chief Executive Officer Jamie Dimon urging the bank to eliminate a forced arbitration clause from its credit card agreements. Despite initially removing it in 2009, JPMorgan Chase has recently informed its customers of updated account terms that now, once again, include a forced arbitration clause. The new provision will be imposed on consumers unless they send Chase a physical letter within 60 days of receiving the notice.