The WSJ reports today that the American Arbitration Association has joined the National Arbitration Forum in saying it no longer shall tinker with the machinery of debt . . . collection.
At least until "some standards or safeguards are established", says the article, quoting an AAA spokesperson. Right.
The item says nothing about the common practice of banks and cellphone companies — among many others — of forcing consumers to agree to arbitrate on an individual basis. They can neither bring nor join in a class arbitration — a fact that has led a growing number of courts to strike down entire arbitration clauses.
But the U.S. Supreme Court will hear a case that deals with that issue in the coming Term.