By and large, U.S. bank customers have signed away their right to sue their bank in court, often without being aware of it. Buried in the fine print of credit card agreements, bank accounts and insurance policies are what are known as binding, or mandatory, arbitration clauses. It means customers are generally required to take any disputes with a bank to a third-party mediator instead of going to court. The nation’s top consumer financial regulator wants to put a stop to that.
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