Stand up to Chuck: Demand that Charles Schwab Corporation Stop Denying Its Customers' Rights

Call on the Charles Schwab to Drop the Forced Arbitration Clause and Class-Action Ban from Its Terms

Charles Schwab & Co., Inc. — a well-known investment advisor holding more than $2 trillion in assets for millions of investors — is trying to eviscerate its customers’ rights.

In the fine print of Schwab’s terms of service, there’s a forced arbitration clause and a ban on consumers joining together in class actions.

Sign the petition to tell Charles Schwab that nobody should have to sacrifice their rights in order to save for retirement.

Petition to Charles Schwab Corporation:

 

We, the undersigned, call on Charles Schwab & Co., Inc. to remove from its terms for investors the forced arbitration clause and the ban on joining together in class actions. Schwab should honor its customers’ rights and end its shameful fight against the Financial Industry Regulatory Authority.

A parody of Charles Schwab's logo that says Stand Up to Chuck

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What Do These Stealth Provisions Do?

 

The forced arbitration clause means that if you ever have a dispute with the company, you can’t go to a public court. You’ll have to go to a private, secretive tribunal chosen for you by Charles Schwab.

Class-action bans prevent you from banding together with other customers to hold these firms accountable for deceptive, fraudulent and illegal practices. So if Schwab misled investors and caused them to lose their hard-earned savings, only those few with the time and resources to seek justice individually – in costly and secret arbitration that is stacked against them – stand a chance to recover their losses. Meanwhile, Schwab can escape real accountability for potential bad actions.


This petition is no longer active.
1-25 of 17561 signatures
Number Date Name Add a Comment
17561 Mon Apr 28 10:38:52 EDT 2014 Anonymous Charles Schwab; rebranding itself as The Evil Empire
17560 Mon Apr 14 22:23:56 EDT 2014 Erica Freeman
17559 Tue Apr 08 10:35:47 EDT 2014 Mark and Judy Harvey
17558 Wed Feb 26 16:07:51 EST 2014 Frederick Foster
17557 Thu Dec 05 10:33:36 EST 2013 Anonymous I AM stopping my Sister from investing with this co. And I AM c
NOT INVESTING! THAT'S 2 MILLION THAT SCHWAB WILL NOT PREY ON!
17556 Fri Nov 22 13:03:08 EST 2013 Jose Lorenzo
17555 Mon Nov 11 23:27:33 EST 2013 Mikhail Nitko
17554 Fri Nov 08 22:44:12 EST 2013 Amy Keller Mandatory binding arbitration clauses are nothing more than attempts to exculpate companies from wrongdoing.
17553 Wed Oct 23 17:20:39 EDT 2013 Tania Tilley Chuck allowed an account to be opened in my name. It was a forged document and has left me with a 2.9million dollar debt. Chuck refuses to abide by a court order to transfer account to felon. Am homeless More....
17552 Wed Oct 23 17:20:27 EDT 2013 Tania Tilley Chuck allowed an account to be opened in my name. It was a forged document and has left me with a 2.9million dollar debt. Chuck refuses to abide by a court order to transfer account to felon. Am homeless More....
17551 Tue Oct 15 12:15:35 EDT 2013 kevin orme
17550 Mon Sep 16 00:39:48 EDT 2013 Marjorie Steakley
17549 Tue Sep 10 11:35:25 EDT 2013 Susan Knape
17548 Mon Sep 09 14:49:19 EDT 2013 Arthur Kaplan
17547 Mon Sep 09 07:17:44 EDT 2013 jon green how do you sleep while children go hungry?
17546 Mon Sep 09 07:09:42 EDT 2013 Wesley Hanna
17545 Fri Sep 06 17:36:42 EDT 2013 Patricia Hernandez
17544 Fri Sep 06 17:19:48 EDT 2013 Kenneth Black
17543 Fri Sep 06 06:37:59 EDT 2013 ROBERT WILLIAMS This is personally insulting. I have no doubt if the tables were turned that you would feel the same way. So why does Schwab treat their clients in a way that they would not stand for being treated More....
17542 Thu Sep 05 21:34:46 EDT 2013 Kirk Friedland I am a long time Schwab customer, but this arbitration clause is unacceptable.
17541 Thu Sep 05 19:25:36 EDT 2013 Anonymous
17540 Thu Sep 05 17:52:08 EDT 2013 David Goldstein I am a Schwab customer. I might buy an arbitration clause if it were even handed but not the one-sided clause that is found in most contracts today.
17539 Thu Sep 05 16:51:46 EDT 2013 Thomas Hurt
17538 Thu Sep 05 16:00:14 EDT 2013 Anonymous I'm a Schwab customer. It certainly is the situation of a large brokerage firm cramming ant-customer rules on its customers.
17537 Thu Sep 05 11:12:27 EDT 2013 Anonymous As a Schwab client, I'm shocked at learning of their position in this matter. They need to reconsider this position to avoid damaging their goodwill.
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