That hasn't stopped companies such as American Express from adding arbitration clauses. Among other financial services companies that require arbitration are First USA, the giant credit card issuer, and Green Tree Financial, a big home-improvement lender. If you don't like the trend, you can always do business with another bank or get another credit card, some industry experts say. But that may be unrealistic, given the proliferation of arbitration. What concerns me is that many people don't know how to prepare for arbitration.
Most arbitration is confidential.
That means you can't discuss your case. And you can't find out how similar cases have been decided. Many experts say arbitration works best when it is voluntary, and when consumers can choose the arbitration service. A lot of companies specialize in what's called alternative dispute resolution. Better Business Bureaus also provide arbitration.