Credit Card Arbitration Bias Subject of Lawsuit
Among the terms in the fine print of credit card policies is almost always a clause requiring private arbitration. And based on the following news story, it’s no wonder why:
San Francisco is suing the National Arbitration Forum on behalf of California consumers, alleging bias. Apparently, the credit card companies did not lose a single case that it initiated against a California consumer between 2003 and 2007, and it won 99 percent of cases in front of NAF arbitrators during that time period. Read more about the lawsuit in the ABC News story.
