To follow up on our post of last week and as reported by the ADR Prof Blog and Professor Ross Runkel’s Law Memo Arbitration Blog, the National Arbitration Forum (“NAF”) announced that is settling its lawsuit with Minnesota’s Attorney General and agrees to step aside from the credit card and consumer debt arbitration business. Lory Swanson released this statement today: National Arbitration Forum Barred From Credit Card And Consumer Arbitrations Under Agreement With Attorney General Swanson: Swanson Also Wants Congress to Ban “Fine Print” Forced Arbitration Clauses.
On a related note, the U.S. Congress hearing blogged here is scheduled for Wednesday, July 22. AG Lori Swanson and Michael Kelly, National Arbitration Forum COO are invited to testify at the hearing.
Related Posts:
- Big Arbitration Firm Pulls Our of Credit Card Business, Business Week, July 19, 2009
- An AG’s Quick Victory: Arbitration Forum Exits Credit Dispute Business, ABA Journal, July 20, 2009
- In Settlement, Arbitration Company Agree to Largely Step Aside, Wall Street Journal, July 20, 2009.
[...] National Arbitration Forum Settles with Minnesota’s Attorney General (July 20) [...]
[...] National Arbitration Forum Settles with Minnesota’s Attorney General (July 20) [...]
[...] has agreed to step aside from the credit card and consumer debt arbitration business. (read more here and here) This agreement came only a few days after Minnesota’s Attorney General sued NAF on [...]