The exit of a major player from the consumer arbitration industry is threatening to shake up the debate in Congress over whether to ban mandatory arbitration provisions in consumer contracts.
The National Arbitration Forum announced Sunday that it would stop doing business in consumer arbitration by the end of this week, as part of a settlement with the attorney general of Minnesota. The settlement came less than a week after the attorney general there filed suit in state court accusing the Forum of deceptive trade practices by failing to disclose its interests in debt collection while claiming to be a neutral arbiter between consumers and corporations.
