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

Spread the Word


share on Facebook

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This petition is no longer active.
26-50 of 17561 signatures
Number Date Name Add a Comment
17536 Mon Jul 08 12:15:29 EDT 2013 Tara Smith
17535 Mon Jul 08 10:47:41 EDT 2013 MaryLynn Michaelis I am disappointed that a company that had been so innovative and forward-thinking should take such selfish and anti-social actions.
17534 Sat Jul 06 16:52:31 EDT 2013 Christopher T. Mizera
17533 Sat Jul 06 11:41:52 EDT 2013 PINGSHUN HUANG I will take into account these kinds of customer-hostile corporate decisions when deciding who to do business with for my investment accounts.
17532 Tue Jul 02 13:36:43 EDT 2013 Dean Peerman
17531 Sun Jun 30 23:05:27 EDT 2013 mikki Sillman
17530 Wed Jun 26 16:51:36 EDT 2013 Francene Shed
17529 Tue Jun 25 12:45:07 EDT 2013 Tom Raymond 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
17528 Tue Jun 25 09:51:58 EDT 2013 Debbie Brenner I am also a part of a forced arbitration (14 students in Arizona) who took on Delta Career Education Corporation for Student Loan Fraud and lost. These arbitrators are in the back pockets of big More....
17527 Tue Jun 25 09:31:45 EDT 2013 Debbie Brenner I am also a part of a forced arbitration (14 students in Arizona) who took on Delta Career Education Corporation for Student Loan Fraud and lost. These arbitrators are in the back pockets of big More....
17526 Tue Jun 25 09:31:05 EDT 2013 Debbie Brenner I am also a part of a forced arbitration (14 students in Arizona) who took on Delta Career Education Corporation for Student Loan Fraud and lost. These arbitrators are in the back pockets of big More....
17525 Fri Jun 21 16:52:12 EDT 2013 William Ninde
17524 Tue Jun 18 23:30:03 EDT 2013 Anthony Hamilton
17523 Sat Jun 15 04:34:09 EDT 2013 L. Steele
17522 Tue Jun 11 11:30:25 EDT 2013 Patrick Dolan
17521 Mon Jun 10 00:36:09 EDT 2013 cindy sims
17520 Sat Jun 08 23:52:57 EDT 2013 Brian Arneman
17519 Sat Jun 08 20:33:04 EDT 2013 Joel Sparler what shady dealing is Schwab doing that impels it to pre-emptively foreclose avenues to real justice for it customers?
17518 Sat Jun 08 16:51:41 EDT 2013 Harry and Jill Brownfield
17517 Sat Jun 08 16:00:28 EDT 2013 Janis Todd
17516 Sat Jun 08 12:21:25 EDT 2013 Clifford Provost
17515 Thu Jun 06 20:37:32 EDT 2013 Cynthia Smith
17514 Thu Jun 06 15:52:21 EDT 2013 Allison Gale
17513 Wed Jun 05 11:04:03 EDT 2013 Michael Price
17512 Mon Jun 03 08:51:54 EDT 2013 Jack Hanke
<- Prev Next ->

Copyright © 2016 Public Citizen. All rights reserved. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation.
Learn More about the distinction between these two components of Public Citizen.


Public Citizen, Inc. and Public Citizen Foundation

Together, two separate corporate entities called Public Citizen, Inc. and Public Citizen Foundation, Inc., form Public Citizen. Both entities are part of the same overall organization, and this Web site refers to the two organizations collectively as Public Citizen.

Although the work of the two components overlaps, some activities are done by one component and not the other. The primary distinction is with respect to lobbying activity. Public Citizen, Inc., an IRS § 501(c)(4) entity, lobbies Congress to advance Public Citizen’s mission of protecting public health and safety, advancing government transparency, and urging corporate accountability. Public Citizen Foundation, however, is an IRS § 501(c)(3) organization. Accordingly, its ability to engage in lobbying is limited by federal law, but it may receive donations that are tax-deductible by the contributor. Public Citizen Inc. does most of the lobbying activity discussed on the Public Citizen Web site. Public Citizen Foundation performs most of the litigation and education activities discussed on the Web site.

You may make a contribution to Public Citizen, Inc., Public Citizen Foundation, or both. Contributions to both organizations are used to support our public interest work. However, each Public Citizen component will use only the funds contributed directly to it to carry out the activities it conducts as part of Public Citizen’s mission. Only gifts to the Foundation are tax-deductible. Individuals who want to join Public Citizen should make a contribution to Public Citizen, Inc., which will not be tax deductible.

To become a member of Public Citizen, click here.
To become a member and make an additional tax-deductible donation to Public Citizen Foundation, click here.