Again, that’s the point. You “remember” this, and that’s when they slip something in like your ISP…
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You stand to potentially gain way way more through an arbitration claim than a class action.
The gain may be more, but the potential is less, and it probably requires more work, and I’m lazy 
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You seriously think an arbitration claim requires more work than a class action lawsuit?!?!? I’m thinkin’ you might still need to get some sleep 
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I suspect he was talking about work on “his” part. When Dewey, Cheatem, and Howe is taking 40% (compared to a more reasonable big guy percentage ) plus throwing in extra fees for everything imaginable, they better not make me get off my backside for anything except to cash the check.
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But that can be true for an arbitration as well. Although you’d only get Cheatem or Howe 'cause it’s a one-man job, but has low 4-figure potential after fees, compared to a typical class action’s low 2-figure payout…
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I’ve never gone through arbitration. How much time could it take for that low 4-figure potential?
By the way, it is my understanding that opting out of binding mandatory arbitration doesn’t mean that I can’t still use arbitration. It just means that I retain my right to use the courts.
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What fees are there in arbitration? I thought all of the fees were covered by the winner bank supplier. That is one of the oppositions to arbitration - the arbitration service is dependent on the banks to continue using them. If they rule too frequently against the banks, then they’ll be out of business.
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It depends on the entity used, and your specific account terms. But often yes, the bank pays the arbitration fees. That alone costs the bank 4-figures, far more than their potential liability in most cases, which is pretty heavy incentive to settle before even getting to the point of anything being arbitrated.
If you use a lawyer, it’ll cost you either per-hour or 40-50%. That was the “after fees” part I was referring to.
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