The Regulatory Review, March 28, 2022, How ending forced arbitration advances economic justice
The harms of forced arbitration are widely noted. Several reports indicate that 81 of the 100 largest U.S. companies use arbitration in their dealings with consumers and more than two-thirds of top selling products include a forced arbitration clause as a term of purchase.
The Economic Policy Institute has also found that “consumers obtain relief regarding their claims in only 9 percent of disputes. On the other hand, when companies make claims or counterclaims, arbitrators grant them relief 93 percent of the time—meaning they order the consumer to pay.”