Tell Congress to Protect Consumers: Keep the CFPB’s New Rip-off Clause Rule
Thanks to a new rule from the U.S. Consumer Financial Protection Bureau (CFPB), Big Banks soon will no longer be able to use rip-off clauses to skirt accountability for cheating, conning, fleecing, defrauding and plundering consumers.
Under the rule, consumers ripped off by corporations like Wells Fargo can hold banks accountable with class-action lawsuits.
But conservatives in Congress are already trying to kill it.
Sign the Petition to Congress: Don’t Touch the Consumer Financial Protection Bureau’s New Arbitration Rule
The Consumer Financial Protection Bureau has acted on its congressional directive by finalizing a new rule to protect consumers from forced arbitration.
We call on our members of Congress to block any and all efforts to repeal this crucial protection to ensure consumers can enforce their rights and Wall Street can’t just enforce its will.
The data is abundantly clear that these rip-off clauses, buried in the fine print, cause serious harm to consumers, as well as the public interest. That’s why I believe you should support this critical new rule.