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Articles tagged with: arbitration

Joint Letter: Coalition Letter in support of the Green amendment to the Consumers First Act restoring the CFPB arbitration rule
May 22, 2019 – 5:06 pm

As part of the Fair Arbitration Now (FAN) coalition, AFR sent a letter in support of Rep. Green’s amendment to the Consumers First Act, which would restore the Consumer Financial Protection Bureau’s arbitration rule that …

AFR Statement: Stories of Wells Fargo Victims Drive Home Injustice of Forced Arbitration
October 23, 2017 – 9:02 am

Americans for Financial Reform is stepping up its campaign in support of the consumer’s right to a day in court. A significant five-figure digital campaign targeting Maine, Alaska, Louisiana and Arizona will tell the stories of Hudson and Byrd, who were scammed by Wells Fargo – and left with no means of pursuing justice.

AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration
October 4, 2017 – 1:08 pm
AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration

Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.

AFR Statement: Stop Senate Rush to Roll Back Protection from Forced Arbitration
September 25, 2017 – 5:32 pm

This rush toward a vote in the Senate is a cynical attempt to roll back an important consumer protection before anyone gets straight answers from Equifax and Wells Fargo about the damage they’ve done to the financial lives of millions of Americans.

AFR in the News: Equifax breach may kill repeal of CFPB mandatory arbitration rule (American Banker)
September 9, 2017 – 2:19 pm

“At least one Republican has already defected—and Crapo can only afford to lose one more… Amanda Werner, campaign manager at the consumer group Americans for Financial Reform and the liberal watchdog group Public Citizen, said ‘it is pretty appalling that Equifax would exploit consumers need for identify theft protection in the wake of this crisis they created in order to avoid accountability.’”

AFR in the News: New U.S. rule on class actions survives first challenge (Reuters)
August 2, 2017 – 4:16 pm

“A new U.S. rule aimed at restoring consumers’ ability to band together to sue financial companies has survived its first challenge, as a top banking regulator on Monday said he would not petition for it to be suspended… ‘The rule is a well thought-out response to the serious consumer harm of forced arbitration,’ said Brian Marshall, policy counsel for advocacy group Americans for Financial Reform.”

AFR Statement: House Vote on CFPB Forced Arbitration Rule a Victory for Big Banks and Predatory Lenders
July 25, 2017 – 5:25 pm

House vote to roll back CFPB rule limiting forced arbitration aids big banks and predatory lenders while stopping ordinary Americans from getting their day in court.

AFR Statement: House Lawmakers Voting to Roll Back CFPB Forced Arbitration Rule Defy Public Sentiment
July 25, 2017 – 11:49 am

In a tough test for the public’s view of the rule, likely voters concluded the rule helps hold companies accountable, and rejected notions that it will encourages frivolous lawsuits.