This major development in the fight against arbitration abuse has potential to to cause some serious carnage. The State of Minnesota filed a lawsuit against National Arbitration Forum, a leading arbitration provider, claiming that NAF is a front for debt collectors and their law firms and not an independent arbitration service. Here’s a copy of the complaint–it’s long–for anyone who is interested.
Those of us who represent consumers have long claimed that mandatory arbitration is akin to a funhouse filled with mirrors, where consumers are going to lose. But I never suspected that there might be an actual conspiracy between NAF, debt collectors, and law firms representing the collectors. If it proves out, NAF and a few of its secret friends are going to have some serious ’splainin’ to do, as Ricky Ricardo would say.
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