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Arbitration Latest News
Senate Committee: Binding Arbitration Recommendations |
Tuesday, 04 January 2005 |
Texas Senate Committee on Jurisprudence Specifically, the Committee shall make recommendations to improve and ensure the efficiency, effectiveness, and fairness of arbitrators and arbitrations.
The Legislature should enact legislation requiring any business that includes a mandatory pre-dispute arbitration clause in their contracts to provide their consumers with certain upfront information. The information provided to the consumer shall specify which rights are being waived, who will arbitrate the dispute, who will cover the costs of arbitration, whether rules of discovery will be followed, what laws are applicable, what information will be public... |
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No Binding Arbitration Allowed |
Thursday, 02 December 2004 |
FANNIE MAE NO LONGER INVESTING IN MORTGAGES CONTAINING MANDATORY ARBITRATION CLAUSES
FANNIE MAE NO longer invests or accepts delivery of residential mortgage loan products that contain mandatory arbitration clauses. According to Fannie Mae Announcement 04-06, Fannie Mae issued, among other things, new instructions to lenders outlining the policies for purchasing and accepting residential mortgage loans. Specifically, the instructions included a prohibition against purchasing or accepting delivery of residential mortgage loans containing mandatory arbitration clauses. A limited exception exists, permitting the use of mandatory arbitration provisions in mortgages that contain a waiver provision. The waiver provision shall provide that if the loan is sold or an interest in the mortgage loan is transferred to Fannie Mae, the mandatory arbitration clause becomes null and void. |
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No Binding Arbitration Allowed with Freddie Mac Loans |
Thursday, 04 December 2003 |
FREDDIE MAC PROMOTES CONSUMER CHOICE WITH NEW SUBPRIME MORTGAGE ARBITRATION POLICY
Freddie Mac announced today that effective August 1, 2004, it would no longer invest in subprime mortgages originated on or after that date that contain mandatory arbitration clauses. Freddie Mac is the first among secondary mortgage investors to adopt such a stance on subprime mortgages with mandatory arbitration clauses. This policy is aligned with the corporationâs existing prohibition on the use of mandatory arbitration for prime market mortgage investments. |
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Monday, 12 August 2002 |
You may have unknowingly waived your constitutional right to a trial by jury when you purchased you new home, used your credit card or made a long-distance phone call. Today, mandatory arbitration agreements are found in almost all consumer contracts, and they are successfully being used by big corporations to block access to courts by consumers who have been treated unfairly. Go to www.texaswatch.org to learn more about arbitration and its pitfalls for consumers. |
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There's no way to arbitrate this issue Critics, firms at odds on policy |
Tuesday, 30 July 2002 |
By Caroline E. Mayer The Washington Post. Arbitrators can limit an aggrieved individual's access to a company's documents, thus possibly reducing support for the complaint. Arbitrations are decided in private. Decisions are kept confidential, so consumers don't necessarily learn what the arbitrator based a decision on. And many consumer agreements call for the arbitration firm to be chosen by the company being complained about. Link: http://www.chicagotribune.com/business/printedition/chi-0207300207jul30.story?coll=chi%2Dprintbusiness%2Dhed |
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No Suits Allowed Increasingly, Arbitration Is the Only Recourse |
Sunday, 14 July 2002 |
By Caroline E. Mayer Washington Post Staff Writer. As an arbitrator, you're going to get work as long as parties choose to use you, and if this is your career or it makes up a good part of your practice, then if you render a decision that is unpopular" with parties that frequently use arbitration, they "may not choose to use you again."â¦The homeowner is convinced she won't get a fair hearing. Link: http://www.washingtonpost.com/wp-dyn/articles/A64365-2002Jul13.html |
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"Leaky Weekleys" Moldy 'Lemon' Homes Denied Day In Court Weekley Boys Privatize the 'Justice' Syste |
Monday, 08 July 2002 |
A major developer of this privatized "justice" is David Weekley Homes, both in its own right and through brother Richard WeekleyÃs Texans for Lawsuit Reform (TLR). Since 1997, TLR's huge PAC has spent $2.6 million on all three branches of Texas government (see table). " Link: http://www.tpj.org/Lobby_Watch/arbitrationhomes.html |
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A NEW THREAT TO CIVIL JUSTICE |
Monday, 01 July 2002 |
The Assault on Arbitration by Texans for Lawsuit Reform (President Richard Weekley, Texas homebuilder David Weekley's brother) "Another bill, S.B. 1706, would have prohibited the use of pre-dispute binding arbitration agreements in many contracts, such as employment contracts, and would have imposed new restrictions on other arbitrations. The bill, opposed by TLR, failed to pass." NOTE: S.B. 1706 was specifically for contracts that mandated binding arbitration without disclosing the high cost, and possible abuse, such as the contract used by David Weekley. Link: http://www.tortreform.com/archives/tlrarbit.pdf |
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The Seventh Amendment A 100 Years of Government Encroachment |
Sunday, 30 June 2002 |
"Seen historically therefore, the Seventh Amendment, the right to trial by jury in civil cases involving more than $20, is a bulwark of political liberty rather than a procedural amendment. Its purpose was to provide the citizen protection against the government. The Founding Fathers included many lawyers who knew this would make the judicial system slower, more inefficient and more cumbersome. They saw this as a small price to pay for protecting freedom from corrupt or tyrannical judges or from powerful or rich persons with unfair influence." Link: http://newt.org/index.php?src=news&prid=135 |
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The Secrecy of Binding Arbitration |
Tuesday, 04 June 2002 |
"Arbitration, Other Matters: Each party agrees to keep all Disputes and arbitration proceedings strictly confidential, except for disclosing of information required in the ordinary course of business of the parties or by applicable law or regulation." --Contract Clark Wilson Homes, Inc. Austin Texas. NOTE: Does this mean no media attention? No protesting? No letters to our Senators and State Reps? Or to the Texas Attorney Generals Office? (as if that would do any good.) |
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Arbitration Should Stand on it's Own |
Tuesday, 28 May 2002 |
"Arbitration clauses should be removed from new home contracts as a prerequisite to purchasing the home. Only when a dispute arises should the owner be given the option of binding arbitration instead of the current court system. Only when the extra fees, rules, procedures, and backgrounds of the arbitrators are openly disclosed to the homeowner can they make a reasonable and educated decision." "Disclosure of the facts to reach an informed choice will allow binding arbitration to stand on it's own or fall on it's farce." Link: /hobbv1/arbitration2.txt |
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