Relevant:
- Corker and Flake Didn't Hate Trump Enough to Stop Him Gutting CFPB's Consumer Arb. Rule (EVEN AFTER WELLS FARGO SCANDAL!)
- Clinton promises to hold Wells Fargo accountable; Puts Forth Anti-Mandatory-Arb Proposal
- Under Cover of Graham-Cassidy, Senate GOP Moving to Gut Major CFPB Rule (Consumer Binding-Arb)
- Sen. Warren tells Wells Fargo CEO Tim Sloan he should be fired for fake accounts scandal (+OTHERS LAMBASTE MIGHTILY!)
- Sen. Brown Plans Bill to Ban Forced Arbitration in Wells Fargo Sales Scandal
2016-12-06 — thestreet.com
On Nov. 23, the dishonored bank filed a motion to force its victims to stick to their word and honor the contract requiring arbitration. In Wells' world, playing by the rules is apparently only expected of the customer. Wells spokesman Jack Grone said the company declined to comment. If it wins, Wells will corral its victims into hearings before the American Arbitration Association, the forum it specified in its customer agreements.
...
Financial companies and their lobbyists spend a lot of time talking about what a terrific, fair system arbitration is for the public. I'd love to have the chance to sit through some of those hearings and report back to you on how fair or unfair it might be. But reporters are not welcome.
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