“Wells Fargo’s customers were ripped off twice,” said Richard Holober, Executive Director of Consumer Federation of California. “First, the bank created two million fraudulent accounts. Then when consumers tried to sue, the bank forced them into company-dominated arbitration hearings. SB 33 will guarantee that the victims of a bank’s identity theft will get their day in court.”
Legislative deliberations continued Tuesday over a bill that seeks to prevent financial institutions accused of defrauding their customers from pulling legal disputes out of the state court system and into private arbitration.
[Senate Bill 33] would help victims of fraud committed by their financial institution after thousands of Americans fell victim to a Wells Fargo scandal.
After receiving several complaints from consumer groups, the state of California looked at creating a new bill aimed at protecting children’s privacy…from their toys.
You subscribe to a magazine or join a gym for a special rate and months later realize you’re paying a lot more for renewals. And those fees keep hitting your bank account while you try to figure out how to make it stop.