In a very interesting announcement, the American Arbitration Association has announced that it will follow the NAF in ceasing to do consumer debt arbitrations.
It appears that the not-for-profit AAA did not have the same legal issues that the NAF had, nor had the AAA been sued for the same things the NAF were sued for. However, the AAA said it will cease taking this type of arbitration cases “until some standards or safeguards are established.”
Read more about the AAA decision here: http://blogs.wsj.com/law/2009/07/22/an-arbitration-revolution-aaa-joins-naf-stops-taking-new-cases/
This furthers the questions I raised in my earlier blog post. As a consumer, now that NAF and AAA are out of the picture, does this now grant me the right to sue in state court, even though I signed away that right in the agreement?
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