What's Buried in the Fine Print?
What’s in the fine print? We’ve all asked ourselves that question when we “click here to agree” to open a checking account or sign up for a new credit card. It turns out that forced arbitration clauses buried in the fine print are taking away one of our fundamental constitutional rights to hold corporations accountable when they’ve cheated us.
But now there’s a way to fight back!
The Consumer Financial Protection Bureau – the federal agency charged with protecting consumer rights that was created after the economic meltdown brought on by greedy Wall Street banks – spent three years studying the effect that forced arbitration clauses buried in the fine print of contracts and agreements has on consumers. The results were alarming: only 7 percent of consumers were aware that forced arbitration restricted their right to hold powerful corporations accountable in court.
The CFPB has issued a rule that will allow consumers to band together as a class to fight Wall Street banks when they’ve done wrong. The Bureau is taking comments from the public and they need to hear from consumers like you about why it’s so important to protect your rights.
Send a comment to the CFPB and tell them why you oppose forced arbitration. Tell the CFPB you want your rights back!