Class Action Facts

Media just becoming aware that Georgia Representative is seeking to gut the Fair Credit Reporting Act to protect Equifax

September 27, 2017 by

Many articles are now appearing pointing out that Georgia Representative Loudermilk proposed a bill to gut the regulations applicable to Equifax (which is headquartered in Georgia) just before the data breach became public. Here are links to the articles:

SEC Commissioner suggests that SEC will allow corporations to put mandatory arbitration clauses into their charters to avoid shareholder securities fraud class actions

August 29, 2017 by

A brief remark from SEC Commissioner Michael Piwowar during a July 17, 2017, Q&A suggests that he believes the U.S. Securities and Exchange Commission might soon allow companies to introduce mandatory arbitration clauses into their corporate charters.

Republicans move to invalidate new CFPB rule banning forced arbitration

July 21, 2017 by

On July 20, 2017, Congressional Republicans began a process to attempt to eliminate a Consumer Financial Protection Bureau rule that stops companies from putting class action bans in their arbitration clauses and makes it easier for consumers to sue banks, credit card firms, payday lenders and other service providers in court.

Wells Fargo got away with setting up sham accounts for 5 years because of forced arbitration clauses

September 21, 2016 by

According to a story published in the Hill, Wells Fargo’s scandalous practice of secretly opening more than 2 million sham deposit and credit card accounts dragged on for at least five years, because Wells Fargo contract provisions blocked consumers from suing the bank in court.

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