Wall Street banks, JP Morgan Chase, Citigroup, Wells Fargo, US Bancorp and PNC Financial, have been granted a license to steal and violate the law. It's called forced arbitration. Buried in the fine print of many bank and credit card contracts are dangerous forced arbitration clauses that eliminate access to justice and replace it with a secretive tribunal designed to favor 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 remains secret. Let's put these banks on final notice to stop forced arbitration!
We encourage you to forward this petition widely. Please share with colleagues, clients, friends and family. Be sure to check out NACA's webpage to learn more about our petition with the Fair Arbitration Now Coalition and Americans for Financial Reform urging the five biggest banks using forced arbitration to remove the provisions from their customer contracts: http://www.naca.net/issues/forced-arbitration/revoke-big-banks-license-steal. This petition has received over 60,000 signatures so far. It is meant to broaden awareness of banks' use of forced arbitration before the CFPB releases its final arbitration study. NACA's webpage also includes a link to send a message to Congress about forced arbitration.
Thank you for supporting our advocacy efforts.
National Association of Consumer Advocates (NACA)
"Let's live on the planet as if we intend to stay."