Did you know that it’s almost impossible to sue your bank or your credit card company if they do you wrong?
America’s biggest banks have a secret weapon that keeps them above the law. It’s called a “forced arbitration” clause. This clause, buried in the fine print of many bank contracts, prevents us from filing class action lawsuits if banks rip us off. Instead, we’re steered into arbitration, a secretive process that is stacked in the company’s favor.
But there’s good news: one government agency has the power to stop the big banks’ license to steal.
Wall Street needs to be held accountable. And Elizabeth Warren’s brainchild, the Consumer Financial Protection Bureau (CFPB), can do it. The CFPB stop the use of these sneaky clauses hidden in the fine print, once and for all.
I just signed a petition asking the CFPB to end forced arbitration at banks. Will you sign it too?