Why the Bill Matters
Binding Mandatory Arbitration: Judge, Jury and Executioner
- In California, National Arbitration Forum arbitrators handled more than 19,000 disputes involving credit card holders. The card holders prevailed only 4 percent of the time. The companies won 94 percent of the time.
- In 16,056 of the 19,000 cases, the arbitrator based a decision solely on documents provided by the company. Consumers won two times; the companies won 16,054 times.
- In 2,019 cases where the arbitrator actually held a hearing, the consumer prevailed in only1.4 percent of the cases.
- Documents filed in an Alabama court case show that NAF arbitrators decided in favor of the consumer 87 times and in favor of First USA Bank 19,610 (99.6 percent) times.