Arbitration ties consumers' hands

[rpannier]

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These days, consumers are increasingly forced to resolve disputes via mandatory binding arbitration. Unfortunately, though many people now are covered by binding-arbitration agreements, most don't know what they are, how they work, when they come into play or who would decide the fate of their complaints.

Businesses love binding arbitration. For them it's a faster and cheaper way to settle disputes and a great way to generate debt collections.
Consumer advocates aren't quite as happy about it.

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Here, an ordinary person can take a big corporation to court and get a hearing in front of a jury of his or her peers." Binding arbitration, Rumley argues, is weighted in favor of big business

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Mandatory binding arbitration is an agreement to have a third party weigh the merits of each side of a dispute and render a decision. That decision is final, and in most cases it can't be appealed, either to another arbitrator or to a court of law.

link:
http://articles.moneycentral.msn.com/SavingandDebt/ConsumerActionGuide/ArbitrationTiesConsumersHands.aspx