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There is also an imbalance in negotiating position in these agreements. If every credit card company you deal with says you must agree to arbitration, what leverage do you have to push back on that? There's just not enough competition in the market to push back on each one of the issues raised in these agreements.

Either the government needs to create enough competition in the market such that consumers have choice on these issues, or the government needs to advocate for the consumers.

[micwawa]

Or some very ambitious consumer advocate needs to step up and form some sort of large scale consumer union. I would be "in."

[wpietri]

Absolutely. I'd join just on general principle.

I think this could also be pulled off by somebody like Costco. They already have a big membership and strong negotiating power. And a large part of their job is sorting through many possible merchandise options and only providing the good ones to their members. It'd be nice to see them take it a step further.