Bank of America Corp., Capital One Financial Corp., JPMorgan Chase & Co. and HSBC Holdings PLC have agreed to settle a class action over credit card arbitration clauses, according to lawyers representing the plaintiffs.

Those banks and three other defendants that have not agreed to settle the suit — Discover Financial Services, Citigroup Inc. and the National Arbitration Forum — have denied any wrongdoing. Representatives of the settling defendants were not immediately available to comment.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.