Groups Call on Citi to End Use of Mandatory Arbitration
October 6, 2004
A coalition of leading advocacy groups has called on Citigroup to stop using mandatory arbitration clauses in its subprime loan contracts. “Access to the courts has been essential to securing civil rights in this country and mortgage contracts that force homeowners into a second-class justice system are unacceptable,” said Wayne Henderson, executive director of the Leadership Conference on Civil Rights, in a statement that called for Citi to abandon the “abusive practice” of requiring…