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Fannie and Freddie Mae no longer allows abitration


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Posted by Bob3 (68.95.129.42) on February 07, 2004 at 05:43:47:

First step to eliminating arbitration in credit matters? "What a wonderful world it would be....."

"This will impact the marketplace because two of the biggest financial institutions in America are saying that mandatory arbitration is abusive," said Ira Rheingold, executive director of the National Association of Consumer Advocates, which includes many plaintiff lawyers. "This begins to tip the seesaw" and may encourage other companies to eliminate similar provisions, he said.



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