Sponsored by Lane Powell

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

Downtime with the executive director of Greater Portland Inc.

April 2015
Thursday, March 26, 2015

Janet LaBar, Executive director, Greater Portland Inc.


Read more...

Letting Go

April 2015
Friday, March 27, 2015
BY AMY MILSHTEIN

As baby boomers sell their businesses, too many forget the all-important succession plan.


Read more...

6 development projects reshaping Bend

The Latest
Thursday, April 09, 2015
bendthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Bend has reclaimed its prerecession title as one of the fastest growing cities in the country.


Read more...

The Health Guru

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Mohan Nair channels a visionary.


Read more...

Picture This

May 2015
Monday, April 27, 2015
BY JACOB PALMER

As a general rule, the more people with autism can be provided with visual cues, the better they will be able to understand and manage their environment. It’s a lesson Tom Keating learned well. The 61-year-old Eugene grant writer spent 31 years taking care of his autistic brother James, and in the late 1980s developed a spreadsheet that created a series of nonsense characters that grew or shrank depending on how much money James had in his account. 


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


Read more...

Energy Stream

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Oregon already ranks as the nation’s second largest generator of hydroelectric power. (Washington is No. 1). Now an elegant new installation in Portland is putting an unconventional, sharing economy twist on this age-old water-energy pairing. The new system, launched this winter, uses the flow of water inside city water pipes to spin four turbines that produce electricity for Portland General Electric customers. 


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