Context: I tried to set up auto payments for my first mortgage loan in the US and I was a bit puzzled with terms and conditions (TOS) that were offered to me.
If my interpretation is correct, TOS requires to hold loan provider harmless in the event of data breach that happened on their side and leakage of personal data of the users of the loan portal. Another thing is mandatory binding arbitration and waiver of jury trial. The corresponding clause seems to be worded in such a way that it seems to apply to any possible situation outside the use of loan portal that those terms and conditions are supposed to cover.
Last but not least TOS is asking me to silently accept all the further modifications of the original TOS.
What is the possible impact that this TOS might have on someone who accepts it in the worst case scenario outside the scope of use of service that TOS intends to cover?
In particular, is there any way (legal wording or regulation or the law) that can give me some peace of mind - so that if something about my loan is not right and I am not at fault, I still can legally defend myself without worrying that I am abandoning some legal option otherwise available to me (e.g. that mandatory binding arbitration or waiver of jury trial)?
I know that I can make payments in the old fashioned way, but I am still curious if my fear on giving up too much by accepting that TOS is groundless or not.