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This petition is no longer active.
201-225 of 17561 signatures
Number Date Name Add a Comment
17361 Fri May 03 13:51:56 EDT 2013 Gary Pieples
17360 Fri May 03 12:24:16 EDT 2013 Rob Carl I will be closing all my accounts (IRA, Corp, Partnership and Banking) unless my rights as a consumer are respected by Charles Schwab & Co
17359 Fri May 03 12:18:12 EDT 2013 Karen bostic you think you're so smart don't you? making your money without working for it and taking advantage of those who do.
17358 Fri May 03 11:45:40 EDT 2013 Anonymous Since the financial industry has benefitted from trillions of taxpayer subsidies in recent years they can take PERSONAL RESPONSIBILITY for what they do and treat their customers fairly. Most businesses More....
17357 Fri May 03 10:58:45 EDT 2013 Anonymous This is shameful.
17356 Fri May 03 05:03:24 EDT 2013 Emma Spurgin Hussey
17355 Fri May 03 03:31:44 EDT 2013 Robert Gabriel
17354 Fri May 03 02:01:03 EDT 2013 JC Williams If what you do is legal and ethical, you should not need this clause!
17353 Fri May 03 01:34:27 EDT 2013 David fox
17352 Fri May 03 01:16:11 EDT 2013 Warren Hollingsworth
17351 Fri May 03 00:29:32 EDT 2013 Rebecca Reber
17350 Fri May 03 00:07:46 EDT 2013 Mary Jozwiak
17349 Thu May 02 22:54:58 EDT 2013 Wilmalyn Puryear
17348 Thu May 02 22:09:24 EDT 2013 Barbara Hills
17347 Thu May 02 21:22:00 EDT 2013 Barbara Mauk
17346 Thu May 02 20:53:40 EDT 2013 Anonymous
17345 Thu May 02 19:54:44 EDT 2013 Sharon Harmon
17344 Thu May 02 19:32:15 EDT 2013 KEN JACOBS As an Investment Advisor Representative doing business with Schwab, I want to offer the best service I can to my clients - and Schwab's action represents just the opposite.
17343 Thu May 02 18:52:49 EDT 2013 Sandra Challenger
17342 Thu May 02 18:22:10 EDT 2013 Shirley Vitela
17341 Thu May 02 18:14:59 EDT 2013 Patrick
17340 Thu May 02 17:22:48 EDT 2013 Raven Dorantes
17339 Thu May 02 16:41:28 EDT 2013 melissa miller
17338 Thu May 02 16:01:27 EDT 2013 Hannah Woodward
17337 Thu May 02 15:39:46 EDT 2013 Nancy Miani
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