Yep, which is why he won the first case. The terms are ridiculous though (fee of $200,000 if the bank cancels the card), which is why I would expect it to be deemed excessive and thrown out (same as EULAs that demand someones firstborn).
I'm curious as to whether he's done something similar previously.
Side note: There's a little-known legal provision that lets people sue a tele/direct-marketer if you ask them to take you off their list and they still keep contacting you. You have to take down the company name, get the name of the caller and ask them if they have "do not contact/call" and to put you on it. If they keep calling you after that (I think 3 times is the limit within 30 days or so), you can take them to small claims court.