There’s a movement afoot to do way with arbitration for many complaints consumers may have where the dollar amounts are relatively small and the legal fees relatively high.
The
pressure to do away with arbitration is especially strong in the
securities industry where the complaint is about alleged bias towards
the industry.
On
closer inspection, you will note the complaints arise from the
plaintiff lawyers who are financially hurt when legal disputes can be
equitably and cheaply adjudicated without the use of expensive legal
assistance.
And
there is little evidence of bias where the consumer or investor has
been hurt by the arbitration process.(See the Earl J. Weinreb
NewsHole® comments.)
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