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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=46511 Justice Cahn IN A PUTATIVE class action on behalf of credit card holders who accepted loans by cash advances or balance transfers subject to low promotional annual percentage rate (APR) financing, plaintiff argued that defendants’ allocation of payments to reduce outstanding cash advances subject to the promotional APR, rather than reducing balances generated by purchases, rendered the promotion deceptive. The court ordered arbitration, finding plaintiff’s action barred by an arbitration agreement in the cardmember agreement. It held that a Delaware law permits unilateral amendment of credit card agreements and approved giving notice of an agreement to include an arbitration provision containing “opt out” opportunity. Noting that the arbitration agreement provided that it was governed by and enforceable under the Federal Arbitration Act, the court rejected plaintiff’s claim that the agreement violated the New York Retail Installment Sales Act.

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