n 2006, Richard Neely, a retired chief justice of the West Virginia Supreme Court, penned an article for The West Virginia Lawyer entitled, “Arbitration and the Godless Bloodsuckers.” The National Arbitration Forum asked him to be an arbitrator one time and Neely described his experience:
“[T]he bank asks for substantial costs related to the arbitration itself, and those costs are significantly higher than court filing fees. . . . In one case that I handled, the fees alone amounted to $450. Furthermore, the arbitration company sends the arbitrator a judgment form already filled out so that all the arbitrator need do is check the appropriate box… In my case I did not award the bank the litigation-related fees. . . . I never got another case!”
Full article inside…
National Arbitration Forum… weren’t those the guys Public Citizen found ruled in favor of companies 95% of the time? Yep, they are.
Mandatory binding arbitration against consumers is a scam. Let’s abolish it and keep it where it was designed for, businesses to deal with other businesses.