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Comment by chris11 | Hacker News Reader

I don't have any personal experience with MBNA, but I assume it means the agreement you sign forces you to use binding arbitration in place of suing MBNA. And being always right just means that basically MBNA will always in in arbitration. So you are stuck in a contract with a company you can't sue or win against if they break the contract.

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Binding arbitration does not mean MBNA will always win. It does mean class-action lawsuits against MBNA are impossible.

NYTimes is doing some great reporting on the topic - start here: http://www.nytimes.com/2015/11/01/business/dealbook/arbitrat...

That can't possibly be a legal contract. There are laws protecting people from fraud. Are you saying that the card company could perform neglectful or fraudulent behavior but not expose itself to suit? That would be laughed out of a traffic court.

Gross negligence or fraud cannot be disclaimed?

It's legal. The thing is by signing the agreement you are waiving a lot of your rights to sue and replacing them with binding arbitration. http://www.motherjones.com/politics/2007/11/suckers-wanted-h...

> I assume it means the agreement you sign forces you to use binding arbitration in place of suing MBNA

I've heard that called a "arbitration clause", but never a "non-arbitration clause", as the person I was responding to put it.

Ah, I misread that as "arbitration clause".

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