Tell Five of America’s Biggest Banks to Stop Hiding Behind Forced Arbitration Clauses, Which Block Ripped-off Consumers from Holding Banks Accountable
JPMorgan Chase, Citigroup, Wells Fargo, US Bancorp and PNC Financial have found too many ways to break the law.
Buried in the fine print of these banks’ customer contracts is a forced arbitration clause that kicks ripped-off customers out of court and instead funnels them into a rigged game designed by Wall Street. Customers are forced to plead their cases to a private arbitrator who doesn’t even have to follow the law.
The arbitrator’s decision is almost impossible to appeal, and any evidence of corporate wrongdoing — conveniently for the Big Banks — remains secret.
With forced arbitration, Wall Street has given itself a license to steal from the public and evade the law. Tell these banks to respect consumers and stop using forced arbitration!
Petition to JPMorgan Chase, Citigroup, Wells Fargo, US Bancorp and PNC Financial:
We, the undersigned, call on your financial institution to remove the forced arbitration requirements from your contracts with customers. Forced arbitration functions as a license to steal that makes it impossible for customers to hold you accountable in court if you break the law. Honor our rights and stop using forced arbitration.
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