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Umpqua Bank bars class actions

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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
 

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