Finally, a bill in California will give victims of the Wells Fargo banking scandal a chance to have their day in court—and the corporate lobby is already lining up to try to stop it.
Millions of Wells Fargo accounts were fraudulently opened without consent, milking customers and harming their credit scores. But despite this, customers affected by the scandal are not allowed to sue for damages.
Bill SB-33 will end the “forced arbitration” injustice that is letting corporations like Wells Fargo off the hook—but the highly organized and powerfully pro-corporate Chamber of Commerce has deceptively labeled the bill a “Job Killer.” This label is usually enough to kill any bill: only one in 10 “Job Killer” bills pass.
But not this time. Tell the Government of California to pass Bill SB-33 and give Wells Fargo victims their day in court.
In case it needs to be said, this bill is no job killer. It will protect consumers from corporations who already have the deck stacked in their favor. Forced arbitration makes it extremely difficult for individuals to file class-action lawsuits against corporations, even in cases of clear wrongdoing, like Wells Fargo. The corporation also gets to pick the arbitrator, securing itself an even sweeter deal.
The Chamber of Commerce has immense influence in California. No politician wants to be labeled a “job killer.” So it’s up to us to be even scarier than the corporate lobby and show our politicians who they really work for. This Bill has already beaten the odds: it passed the Senate despite every Republican voting against it. Now we need to get it passed the Assembly.
Join our call to the Government of California: Vote for Bill SB-33 and protect consumers from the Big Banks!
More information
MSNBC. 12 May 2017.
NY Times. 31 October 2015.
Press Release. 5 December 2016.