It’s Time to Revoke Wall Street’s License to Steal & Violate the Law

December 10, 2013  |  Other, Forced Arbitration

Guest Post by Baron & Budd Shareholder and American Association of Justice President Burton Leblanc

Corporate America has been granted a license to steal and violate the law. It is called forced arbitration and it puts all Americans at risk.

Americans’ financial security is at risk because 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 rigged in favor of Wall Street.

Forced arbitration keeps you from holding financial institutions accountable when they lie, cheat and steal. And as we know all too well, when Wall Street is not accountable, no one is safe.

On Wall Street, banks have been flexing their muscles when it comes to forced arbitration – these dangerous clauses are in more agreements for checking accounts and credit cards than ever before.

There is good news! The Consumer Financial Protection Bureau (CFPB) can revoke banks’ license to steal by banning forced arbitration. But the CFPB needs to hear from you.

We urge you join us in the fight against forced arbitration by signing this petition to CFPB Director Richard Cordray telling the CFPB to put consumer financial security above Wall Street and stop forced arbitration: https://www.change.org/petitions/revoke-banks-license-to-steal-stop-forced-arbitration

Also, the CFBP is holding a field hearing on forced arbitration this Thursday, December 12th at 11 a.m. CST in Dallas, Texas. You can watch the hearing live on the CFPB’s website here.

Let us know about your experiences with forced arbitration and if you think Wall Street banks and credit card corporations should be accountable.

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