'Unfair' Chase Arbitration Agreement Stands: Court

Law360, New York (October 6, 2009, 7:50 PM EDT) -- In a backhanded compliment to Chase Bank USA, a federal appeals court has upheld an arbitration agreement with the bank's credit card customers, even while finding that some of Chase's alleged practices are “unfair” and are now or soon will be illegal.

The U.S. Court of Appeals for the Eighth Circuit on Tuesday reversed a decision by a lower court finding Chase's arbitration agreement is so substantially unconscionable as to be unenforceable.

At the time the plaintiff in the case, Virginia Cicle, opened a credit card...
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