Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
No quid pro quo, there was nothing," Trump said the call. "It was a perfect conversation."Politicsread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
JPMorgan Chase is trying to make it harder for its credit card customers to sue the bank in court by requiring them to go into private arbitration to settle disputes.
The opportunity for JPMorgan Chase credit cardholders to opt out of binding arbitration expires in a month.
The bank notified customers in May that their right to sue over grievances connected to their Chase credit cards will go away unless they take some action by the first week in August.
Unlike class action lawsuits that can be brought by a group of aggrieved consumers, arbitration cases generally can be brought only by individuals. And the private process is overseen by a third party rather than an appointed judge.
Up to 47 million customers could be impacted by the change at Chase, including holders of the Slate and Sapphire card.
"Arbitration typically benefits companies over consumers, so it can't hurt to opt out and open some alternatives," said Ted Rossman, industry analyst at CreditCards.com.
Overall, the change in unlikely to have a big impact on consumers, Rossman said. He said the average person receives just $32 in a class action lawsuit.
However, consumer advocates say the outcomes of arbitration are even grimmer. Just 9% of people who bring such claims walk away with relief, according to the left-leaning Economic Policy Institute.
And they point to the success consumers have had in previous class action lawsuits.
In 2009, Chase agreed to temporarily drop arbitration clauses from its credit card agreements after a class action lawsuit alleged the bank conspired with Capital One, Bank of America, Citigroup, Discover and HSBC to block consumers' grievances from the courts.
A few years later, in 2012, Chase agreed to pay $110 million to settle a class action lawsuit brought over its overdraft fees.
More companies are trying to keep their customers out of court. In 2016, 72% of banks included an arbitration clause in their disclosures, up from 59% in 2013, according to Pew Trusts. (The researchers looked at the largest financial institutions.)
If you wish to opt out of the new Chase agreement, you can send a letter to the bank explaining that you, "reject this agreement to arbitrate." Your notice needs to be mailed to Chase at P.O. Box 15298, Wilmington, DE 19850-5298.
You can also look for a bank that doesn't try to get you to sign away your right to sue, such as Bank of America, Capital One or TD Bank.