HSBC requires binding arbitration, thus many customers think HSBC abuses customers and the system to generate more profits. When the cost of arbitration far exceeds late fees HSBC thinks they have an air-tight case.

If you know you have been abused, is binding arbitration a total road block? Not always, but you cannot fight HSBC by yourself. If you have a contract you might have no alternative. However, if there is no contract, we cite the following:

Sanford v. MemberWorks, Inc., 483 F.3d 956 (9th Cir. 2007). In a telemarketing-fraud case, where the plaintiff consumer insisted she had never entered the contractual arrangement that defendants said bound her to arbitrate individual claims to the exclusion of pursuing class claims, the Ninth Circuit reversed an order compelling arbitration – allowing the plaintiff to litigate on behalf of a class.

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