Sec. 3. Arbitration of consumer disputes related to credit card accounts
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Chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq.) is amended by adding at the end the following: In this section— the term covered dispute means a dispute that is not subject to a final judgment by a court; and the term predispute arbitration agreement means any agreement between a person and a consumer providing for arbitration of any future dispute between the parties. No predispute arbitration agreement shall be valid or enforceable in a covered dispute that is related to a credit card that was not issued in response to a request or application for that credit card account.
The applicability of this section to a predispute arbitration agreement shall be determined by a State or Federal court of competent jurisdiction. .
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Sec. 3
Arbitration of consumer disputes related to credit card accounts
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