Breaking news -A lawsuit filed today by the Minnesota Attorney General filed against the National Arbitration Forum alleges "consumer fraud, false advertising and deceptive trade practices by 'misrepresenting its independence' and hiding its 'extensive ties' to the collection industry."
The complaint presents some very damning allegations that will definitely shake the system to its core and undoubtedly bring outrage!
...more here on SunSentinel Blog...
Complaint -PDF
This is why we need a Consumer Financial Protection Agency !
We also need to urge passage of the Arbitration Fairness Act! If passed, the AFA would restore our right to choose between arbitration and court.
For more on NAF and binding arbitration complaints see a couple earlier blogs:
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Funny how news like this never makes it to the Television news networks. Could it be because the big banks sew up their advertising revenue? I haven't seen a bit of news on this or the consumer protection agency you speak of. The public has been getting screwed over for so long and they should be fit to be tied over this and would be if they only had a bit of fair and balanced news. What happens to all those people who have had to live by rullings that were made by possible impartial arbitrators with undisclosed conflicts? It is time to do away with arbitration clauses in ALL contracts. Make them play by the rules the rest of us play by.
This is an attorney general that has been slammed (and hard) for busting a union in her office. The Minnesota Legislative Auditor confirmed last year that Lori Swanson ordered attorneys in her office to falsify affidavits, file meritless lawsuits for good press, etc. She's a bad apple, and while I'm no fan of NAF, I think it's unfortunate that progressives are willing to turn a blind eye to the awful things that Lori Swanson has done in her office just because we dislike NAF. NAF is terrible, but Lori Swanson has shown that her tactics aren't any better.