Tag: Mandatory Arbitration

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.

Economic Policy Institute Releases Important Paper on Problems With Mandatory Arbitration

December 8, 2015 by

In The Arbitration Epidemic: Mandatory Arbitration Deprives Workers And Consumers Of Their Rights, Katherine V.W. Stone and Alexander J.S. Colvin outline the problems posed by mandatory arbitration and explain how, in a series of rulings, the Supreme Court has freed up large corporations to sidestep the legal system through arbitration clauses.

Consumer Finance Protection Bureau issues report on mandatory arbitration and class action waivers

March 11, 2015 by

Yesterday, following three years of intense research, empirical studies, and analysis, following dozens of submissions by a wide range of stakeholders including thousands of pages, the Consumer Finance Protection Bureau issued its Final Report, mandated by Congress in the Dodd-Frank Act, as to the effects of mandatory arbitration/class action waivers. From the CFPB press release:

Page 1 of 3