I feel so bad for the American people. They are being screwed so many ways since Sunday that they can't even keep track of how many holes are being penetrated.
"Arbitrator hid ties to debt collectors, new report says; House panel holds hearings on industry practices" by Bob Van Voris and Holly Rosenkrantz, Bloomberg News | July 23, 2009
NEW YORK - A congressional staff investigation into the biggest US consumer debt-collection arbitrator found “deeply disturbing’’ abuses, US Representative Dennis Kucinich said yesterday.
A report released yesterday claims the National Arbitration Forum, a Minnesota company that handled most consumer debt-collection arbitrations in the United States, misled consumers and hid ties to debt-collection firms.
Kucinich, an Ohio Democrat, summarized the findings at a hearing into the use of mandatory arbitration clauses by credit card, mobile phone, and other companies to collect consumer debts. “The debt collection industry and the alternative legal system that has been created around it can no longer be ignored by the federal government,’’ Kucinich said.
Bills to crack down on abuses of mandatory arbitration are being considered by Congress. Hearings before a House subcommittee chaired by Kucinich began yesterday....
Minnesota Attorney General Lori Swanson told the committee the National Arbitration Forum was “part of one big debt-collection conglomerate.’’
