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This petition is no longer active.
126-150 of 17561 signatures
Number Date Name Add a Comment
17436 Wed May 08 13:34:13 EDT 2013 H GRAY
17435 Wed May 08 07:33:14 EDT 2013 David and Susanne S Arbiter
17434 Wed May 08 06:59:23 EDT 2013 Cynthia Walker
17433 Tue May 07 21:25:29 EDT 2013 Ada C Shaum
17432 Tue May 07 21:20:47 EDT 2013 Sigrid Asmus 201 -->200Why invest with Schwab if the company refuses to accept the provisions of the Financial Industry Regulatory Authority? Backing away from customer protection clearly makes Schwab an untrustworthy firm.
17431 Tue May 07 21:03:09 EDT 2013 Richard Arroyo
17430 Tue May 07 18:51:56 EDT 2013 Vince
17429 Tue May 07 17:41:43 EDT 2013 M. Browning Please don't make me close my PCRA account!!!
17428 Tue May 07 17:22:46 EDT 2013 Anonymous These clauses are anti-democratic!
17427 Tue May 07 15:19:29 EDT 2013 George Seman
17426 Tue May 07 10:15:46 EDT 2013 M. Frances Nichols
17425 Tue May 07 09:39:42 EDT 2013 Linda Servey
17424 Tue May 07 04:33:47 EDT 2013 Melinda K Morse
17423 Tue May 07 04:15:25 EDT 2013 Anonymous
17422 Tue May 07 02:08:56 EDT 2013 Erin Brandon
17421 Mon May 06 22:04:03 EDT 2013 K danowski
17420 Mon May 06 21:22:05 EDT 2013 Pauline Thomas-Brown
17419 Mon May 06 20:42:28 EDT 2013 Kerala Rush
17418 Mon May 06 18:27:00 EDT 2013 reita NEWKIRK
17417 Mon May 06 16:15:32 EDT 2013 Beverly Linton
17416 Mon May 06 15:35:45 EDT 2013 Lynne Banta
17415 Mon May 06 14:31:57 EDT 2013 Dennis Young
17414 Mon May 06 14:16:26 EDT 2013 walter moore
17413 Mon May 06 12:22:54 EDT 2013 john krumae
17412 Mon May 06 11:58:31 EDT 2013 stephen dunne
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