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This petition is no longer active.
51-75 of 17561 signatures
Number Date Name Add a Comment
17511 Sat Jun 01 21:59:59 EDT 2013 Dr. William J. Sneck, S.J., Ph. D.
17510 Fri May 31 21:41:30 EDT 2013 Gerald & Holly Phillips
17509 Thu May 30 23:31:41 EDT 2013 Ed Perry
17508 Tue May 28 22:23:58 EDT 2013 E B
17507 Tue May 28 10:47:50 EDT 2013 Marcella Ciucki
17506 Tue May 28 03:15:41 EDT 2013 Barbara Duehn
17505 Mon May 27 22:07:15 EDT 2013 donald kokkonen
17504 Mon May 27 21:10:04 EDT 2013 Brian Smith
17503 Mon May 27 16:19:44 EDT 2013 Dennis DeMarinis
17502 Sat May 25 21:44:44 EDT 2013 Charlotte Reynolds
17501 Sat May 25 18:38:06 EDT 2013 wendy henry
17500 Sat May 25 01:19:55 EDT 2013 Kathy Moseley
17499 Fri May 24 17:14:31 EDT 2013 Patricia McDonald
17498 Fri May 24 01:37:28 EDT 2013 Mark Teig
17497 Fri May 24 00:01:34 EDT 2013 Anonymous one more person who won't be investing at schwab
17496 Wed May 22 20:30:06 EDT 2013 Edward Harkins
17495 Wed May 22 14:31:17 EDT 2013 Jamie Kitson
17494 Tue May 21 01:25:23 EDT 2013 Laura Epstein
17493 Tue May 21 00:11:17 EDT 2013 Rick Macias
17492 Mon May 20 06:37:57 EDT 2013 Mary Moore Please do not add yet another black mark on the financial industry's record. I am both a customer and a middle class American. I am concerned not only what this will do to me personally but also about More....
17491 Sun May 19 14:35:36 EDT 2013 D. Lancon Charles Schwab seems to be emulating the Communist capitalist model. Interesting. Shame on Schwab!
17490 Sun May 19 01:40:39 EDT 2013 Anonymous
17489 Sun May 19 01:12:38 EDT 2013 Karen Kalkstein Chas. Schwab:

We have been happy with most---not ALL---of your service to our accounts (we have 10 accounts, under outside management) for well over 10 years now.

But forced More....
17488 Sun May 19 00:40:40 EDT 2013 LindaJean Edwards
17487 Sun May 19 00:38:10 EDT 2013 Diane LaMagdeleine
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