Is it legal in a Pennsylvania bank terms and conditions to have the consumer agree to waive a jury trial and right to join a class action law suit and be required to enter into binding arbitration?

Generally yes, but there are alot of nuances to make sure it is enforceable. This is really a topic best suited for comment and drafting by an attorney. I recall doing a survey a few months ago and pulling terms and conditions for PA banks to see who was doing it and how they drafted it. Most of the large and regional banks include arbitration clauses with class action waivers. Most community banks do not use mandatory arbitration clauses. I believe in the Central PA region PNC, Fulton, and FNB all have them. I spoke with an exec from a Bank in the south called Renasant Bank that included a mandatory $5,000 minimum damage award to the consumer if the consumer won at arbitration, just to make it as consumer friendly and enforceable as possible. Nothing our bank management would go for, but an interesting concept.

Thanks for the information.