Tag Archives: U.S. Supreme Court

Forced Arbitration: A Sneaky Rip-Off

Businessmanhave an ace under his sleeve while meet his client or partner

Update: The CFC submitted a letter in strong support of the proposed rule to the Consumer Financial Protection Bureau on August 22. View it here (pdf). When a bank or other financial institution engages in unfair, deceptive or downright abusive rip-offs, consumers should get their day in … Read More ›

Wells Fargo Must Pay $203M To Customers After Supreme Court Rejection

by Ashlee Kieler, Consumerist

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In 2010, the judge in the case ordered the bank to pay the $203 million to customers of Wells Fargo who were affected by the overdraft policy between Nov. 2004 and June 2008. … At issue in the appeal to the Supreme Court was whether or not previous courts were right to certify the class action even though the class included individuals who were not harmed by the company’s conduct — in this case Wells Fargo allegedly making misleading statements to checking account customers about how their transactions would be posted and the likelihood that an overdraft would result. Read More ›

Supreme Court Rejects Class-Action Suit Against DirecTV

by Robert Barnes, Washington Post

Creative Commons

“These decisions have predictably resulted in the deprivation of consumers’ rights to seek redress for losses, and turning the coin, they have insulated powerful economic interests from liability for violations of consumer protection laws,” wrote [dissenting Justice Ruth Bader] Ginsburg. … “It has become routine, in a large part due to this court’s decisions, for powerful economic enterprises to write into their form contracts with consumers and employees no class-action arbitration clauses … further degrading the rights of consumers and further insulating already powerful economic entities.” Read More ›