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>Consumers obtain relief regarding their claims in only 9 percent of disputes. On the other hand, when companies make claims or counterclaims, arbitrators grant
by frgtpsswrdlame 8y ago
>Consumers obtain relief regarding their claims in only 9 percent of disputes. On the other hand, when companies make claims or counterclaims, arbitrators grant them relief 93 percent of the time—meaning they order the consumer to pay. If you consider both sides of this equation, in arbitration, the average consumer is ordered to pay $7,725 to the bank or lender.
https://www.epi.org/publication/correcting-the-record-consumers-fare-better-under-class-actions-than-arbitration/ https://www.epi.org/publication/correcting-the-record-consum...
Note that it's limited to arbitration involving financial companies though. Absolutely terrible to see what happens to normal people when companies can privatize justice.
- paulddraper 8y agoOf course, that prompts the question about how many of the customer complaints were legitimate, and how many of the company complaints were legitimate.