We just wanted to take a second to update you on our campaign to end Big Banks’ use of a secret weapon called “forced arbitration.” As you may know, forced arbitration clauses, which are buried in the contracts of major banks like Wells Fargo and PNC, prevent consumers from going to court if the bank rips them off. It’s nothing more than a license to steal. We say it needs to end right NOW.
More than 67,000 of you agreed, and today, our friends at Public Citizen and Consumer Action took that message to the bank‒literally.
In Pittsburgh, they braved freezing cold temperatures to deliver a huge stack of petitions to the headquarters of PNC; in San Francisco, another huge stack was delivered to Wells Fargo headquarters.
We’re hardly the only ones sounding the alarm bells over the big banks’ License to Steal. On November 19, sixteen state attorneys general urged the Consumer Financial Protection Bureau (you may know them as Elizabeth Warren’s brainchild), to restrict bank use of forced arbitration. That’s a big deal!
In a few weeks, we’re going to kick things up a notch with an action of our own. We can’t say too much yet, but we’re really excited‒and it’s all thanks to the hard work and support of O98-ers like you.
Want to help us make this action even bigger? Add your name to our petition! 67,000 signatures across all our coalition partners is impressive, but imagine how impressive 100,000 would be!