Minnesota Atty General Suit Alleges the National Arbitration Forum Is Fraudulent

Today, the Minnesota Attorney General sued the National Arbitration Forum, the major arbitration firm that banks use to prosecute consumers who owe credit-card debt. The AG’s complaint states that NAF represents to the public, the courts, and consumers that it is independent, operates like an impartial court system, and is not affiliated with any party. However, what the consumer does not know is that NAF works alongside creditors behind the scenes against the interest of consumers. The truth is that NAF is actually controlled by major collection law firms that represent credit-card companies. A New York hedge fund known as...

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