Awesome entry in The Consumerist Blog's "Confessions" Series. Sneak preview:
The National Arbitration Forum asked [Richard Neeley, retired Chief Justice of the West Virginia Supreme Court] to be an arbitrator one time and Neely described his experience:
"[T]he bank asks for substantial costs related to the arbitration itself, and those costs are significantly higher than court filing fees. . . . In one case that I handled, the fees alone amounted to $450. Furthermore, the arbitration company sends the arbitrator a judgment form already filled out so that all the arbitrator need do is check the appropriate box... In my case I did not award the bank the litigation-related fees. . . . I never got another case!"
Read the whole thing here