WASHINGTON - In a decision that will help banks pare their legal expenses, the U.S. Supreme Court has ruled that states cannot invalidate arbitration clauses included in contracts between businesses and consumers.

"This is a really good decision," said Michael Crotty, deputy general counsel for the American Bankers Association. "If anyone was contemplating putting arbitration in their contracts, this should relieve any concerns they had about the enforceability of the things."

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