Umpqua Bank bars class actions

| Print |  Email
Must Reads
Tuesday, January 24, 2012

Umpqua Bank has joined other financial services firms in barring customers from filing class-action lawsuits.

 

The moves come after a series of U.S. Supreme Court rulings upholding the right of companies to keep consumer disputes from going before a judge or jury. It also comes as banks battle numerous class-action lawsuits over alleged deceptive practices. 
Umpqua, the largest Oregon-based bank and a division of Portland-based Umpqua Holdings Corp., inserted the arbitration requirement in a new deposit agreement mailed to customers last week. It takes effect Feb. 15. 
The bank will require checking, money-market, CD and savings account holders to resolve disputes through an arbitration service in Portland. It also will waive the customer's right to bring claims as part of a class-action lawsuit or class arbitration.

Read more at OregonLive.com.

{biztweet}umpqua bank{/biztweet}

 

 

Comments   

 
Spanky
0 #1 Law SuitsSpanky 2012-01-27 09:25:42
How can a company tell you that you can't sue them

What a joke......

All their customers need to leave that bank. Go to one that cares about the customer. Make Umpqua Bank the smallest bank in Oregon. That will get them thinking...

What happened to customer service.
Quote | Report to administrator
 

More Articles

Reimagining education to solve Oregon's student debt and underemployment problems

News
Thursday, November 13, 2014
carsonstudentdept-thumbBY RYAN CARSON | OP-ED CONTRIBUTOR

How do we skill up our future technology workforce in a smart way to take advantage of these high-paying jobs? The answer shouldn’t focus only on helping people get a bachelor’s degree.


Read more...

Streetfight

News
Sunday, December 07, 2014
BY LINDA BAKER

On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.


Read more...

Old school: Paulsen's Pharmacy maintains old fashion ethos

The Latest
Thursday, December 18, 2014
121914-pharmacy-thumbBY MEGHAN NOLT

VIDEO: Under the radar — complete with a soda counter, the traditional Paulsen's Pharmacy looks to compete with big box retailers.


Read more...

Corner Office: Marv LaPorte

January-Powerbook 2015
Saturday, December 13, 2014

The president of LaPorte & Associates lets us in on his day-to-day life.


Read more...

Crowdfunding 2.0

News
Tuesday, December 02, 2014
120214-crowdfund-thumbBY LINDA BAKER

A conversation with attorney Erich Merrill about the latest way to raise money from large groups of people.


Read more...

Kill the Meeting

November/December 2014
Wednesday, October 22, 2014
BY AMY MILSHTEIN

Meetings get a bad rap. A few local companies make them count.


Read more...

Corner Office: Pam Edstrom

January-Powerbook 2015
Saturday, December 13, 2014

Seven tidbits of information from an agency partner and co-founder of Waggener Edstrom in Lake Oswego.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS