FINRA Launches Small Claims Pilot Telephonic Mediation Program

FINRA has announced that it has started a pilot mediation program in small claims cases.  This program will allow customers to participate in telephonic mediation for no cost for claims of $25,000 or less or $50 per hour for cases with claims of $25,000 to $50,000.  FINRA states that it will not charge any administrative fee for these cases.