Mobile phones, nursing homes, credit cards, and now bank accounts that
you never even agreed to have opened in your name!? Corporate America
is using forced arbitration clauses buried on many of the contracts you
agree to every day to close the courthouse door in your face. These oppressive
“fine print” clauses, which most people never read, are potent
tools used to limit your right to sue and effectively recover against
big corporations. Why do they use these clauses?
- Because they win far more often in front of the arbitrators who get huge
volumes of business arbitrating these cases
- Because people cannot afford to pay for a private judicial system (arbitration
costs money unlike the free and open court system)
- Because the results of arbitrations are secret and corporations won’t
suffer bad publicity regardless of the outcome
- All of the above.
If you guessed “D”, you are absolutely correct. The only way
to force Wells Fargo to do the right thing and live up to the promise
they have made to Congress is for every consumer to insist on the right
to proceed in court instead of being buried in a private arbitration system.
If you are a Wells Fargo customer, tell them that you reject any arbitration
clause on your account. If they will not agree to strike the clause, MOVE
If you have any questions regarding these issues or believe you have become
a victim of forced arbitration clauses, contact our legal team at Shrager,
Spivey & Sachs!