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PostPosted: Fri May 09, 2008 2:29 am 
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Second Circuit Reinstates Antitrust Suit Against Credit Card Issuers in Mandatory Arbitration Case.

On April 25, the U.S. Court of Appeals for the Second Circuit reinstated a potential class action suit against credit card issuing banks alleging that the banks violated federal antitrust laws by illegally colluding to force cardholders to accept mandatory arbitration clauses in their cardholder agreements. Ross v. Bank of America, N.A. (USA), et al., No. 06-4755-cv (2nd Cir. Apr. 25, 2008).

In doing so, the court overturned a district court ruling that the plaintiff cardholders lacked standing under Article III of the U.S. Constitution because mandatory arbitration clauses had not been enforced against them.

The Second Circuit held that the injuries to competition and the market alleged by the cardholders’ antitrust claim were sufficient to allege a “case or controversyâ€

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