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This petition is no longer active.
76-100 of 17561 signatures
Number Date Name Add a Comment
17486 Sat May 18 01:16:56 EDT 2013 Indira Smith
17485 Fri May 17 18:15:19 EDT 2013 Clarice Alexander As a Schwab client, I'm not pleased with this situation.
17484 Fri May 17 11:54:26 EDT 2013 Dan Aurian-Blajeni
17483 Fri May 17 09:39:06 EDT 2013 Dennis Nolan
17482 Thu May 16 23:24:28 EDT 2013 Anonymous
17481 Thu May 16 20:47:58 EDT 2013 Anonymous
17480 Thu May 16 11:26:54 EDT 2013 Bethal Little
17479 Thu May 16 01:19:25 EDT 2013 Carolyn Leamer
17478 Thu May 16 00:59:41 EDT 2013 Anonymous This corporation belongs in prison!
17477 Wed May 15 19:54:50 EDT 2013 Anonymous
17476 Wed May 15 18:40:00 EDT 2013 MARIA PACHECO aren't making enough money, how much more money will be enough for you? people will be educated on your insatiable greed you nefarious fascist republican!
17475 Wed May 15 17:58:44 EDT 2013 yachira martinez
17474 Wed May 15 16:23:35 EDT 2013 PAUL DEMASI How much MORE will the people take?!?!?!
17473 Tue May 14 20:07:22 EDT 2013 Carol McInerny
17472 Tue May 14 19:14:11 EDT 2013 Anonymous
17471 Tue May 14 16:14:17 EDT 2013 Jake
17470 Tue May 14 10:57:27 EDT 2013 John Berman
17469 Mon May 13 20:31:09 EDT 2013 Rev Crow Swimsaway PhD
17468 Mon May 13 17:10:54 EDT 2013 Dana Stickney When a customer is wronged by a trusted corporation, he deserves to be able to file suit (singly, and collectively) to remedy this disadvantage.
17467 Mon May 13 16:36:38 EDT 2013 Kirk Ramble
17466 Mon May 13 15:12:23 EDT 2013 Shelby Norris
17465 Mon May 13 12:07:11 EDT 2013 Sandra Mowell
17464 Mon May 13 02:43:45 EDT 2013 Lynnette Perkes
17463 Mon May 13 00:17:47 EDT 2013 Margarita Mallen
17462 Sun May 12 23:59:59 EDT 2013 Lynn Levine I am a Schwab customer. This is not the first time I have gotten disturbing news about Schwab policies. Political contributions to promote financial policies that are bad for the middle class is not More....
<- Prev Next ->

© Public Citizen. 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.