ED Magedson – Founder
Credit One Bankpo box 95516 Las Vegas, Nevada USA
Credit One Bank Robert DeJong CEO, Narine Yenovkian, Allan Shutt, Attorney FCRA Violations, Forced Arbitration but will not arbitrate. Las Vegas Nevada
Credit One Bank slipped an Arbitration Agreement in the fine print of their contract, which is fine. However, they fail to pay the Case Management Fees, leaving my dispute in limbo. My complaint in general are violations of the FCRA and of the TCPA, both of which are arbitrable. They have not stated any counterclaims since they are avoiding the huge expense of arbitration with Jams, which can amount to $20,000 or more (on a case involving $300).
I offered to pay Credit One Bank $250 (the amount for Arbitration) rather than go through an expensive arbitration (on their part) on a balance which is about that amount. However, Credit One Bank (Paralegal Narine Yenovkian and Attorney Allan Shutt) refused. They agreed by email to Arbitration.
However, the Company is avoiding paying the arbitration case management fees to which it agreed to.
The Consumer Financial Protection Bureau is very interested in consumer cases requiring binding arbitration. Therefore, if you run into this situation, I highly recommend complaining on CFPB.GOV, who will also send all complaints to the FTC and OCC.
I will update this post as the case progresses, or upon an answer from the CFPB.
Here is a link to Credit One's Arbitration Agreement
This report was posted on Ripoff Report on 02/28/2014 12:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-One-Bank/Las-Vegas-Nevada-89193/Credit-One-Bank-Robert-DeJong-CEO-Narine-Yenovkian-Allan-Shutt-Attorney-FCRA-Violation-1127184. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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