12 C.F.R. § 48.16 Customer Dispute Resolution
Library | Code of Federal Regulations |
Edition | 2023 Edition |
Currency | Current through September 30, 2023 |
Citation | 12 C.F.R. § 48.16 |
(a)
-
(1) Signing the agreement is not a condition
for the customer to use the services offered by the national bank.
-
(2) If the agreement is contained as a clause
or clauses of a broader agreement, the customer separately endorses the clause
or clauses.
-
(3) The agreement
advises the retail forex customer that, at such time as the customer notifies
the national bank that the customer intends to submit a claim to arbitration
or at such time the national bank notifies the customer of its intent to submit
a claim to arbitration, the customer will have the opportunity to choose a
person qualified in dispute resolution to conduct the proceeding.
-
(4) The agreement must acknowledge that the
national bank will pay any incremental fees that may be assessed in connection
with the dispute resolution, unless it is determined in the proceeding that the
retail forex customer has acted in bad faith in initiating the
proceeding.
-
(5) The agreement must
include the following language printed in large boldface type
To continue reading
Request your trial