I strongly suspect that arbitration is a defensive reaction to broken aspects of the US civil litigation system.
Fixing the system would be much better than banning arbitration, but it's also probably very, very hard.
So here we are.
Fixing the system would be much better than banning arbitration, but it's also probably very, very hard.
So here we are.
So what happens instead? Each company comes up with their own detailed, up-to-date, heavily skewed set of rules. And we agree to use their private court system or go to another company that does the same thing but slightly different.