In 'The Most Brazen Corporate Wrongdoer Maneuvers in Memory,' Equifax Directs Potential Victims to Give Up Legal Rights
The arbitration clause was put in place in anticipation of the TPP being signed into law. I refused to sign and plenty of companies wanted that signature. You don’t have to sign it, people. Refuse or sign and give away your rights.
It isn’t just Equifax. Many corporate cartels use the clause. The problem is, if you don’t sign, you don’t get whatever service or product it is that they provide. With so many services and products being monopolized, most of us sign to get the product or service. Even those that are not monopolized, if one provider in whatever industry you are looking for products or services has the clause, most if not all of the other providers in that industry will have the same clause.
I have on occasion simply crossed out any language in a contract that is unacceptable to me. If it’s a multiple page contract, the reviewers just look at the last page where the signatures are, and it goes through just fine.
I’ve been known to ‘sign’ such documents with the sprawled monicker ‘Jack Meoff’ usually with my left hand.
And at least 3 Equifax Executives are in potential legal hot water for making large stock trades right After the breach but Before disclosing it to the public.
They made a nice Profit on the stock trades and are now trying to swear they didn’t know and are as innocent as tiny babies of Insider Trading.
After 6 Weeks, imagine the devastation and related anguish people will have to go through to repair the fraud against their names and history. The cost to Equifax? Not a Penny.
This is Corporate EVIL. Could they have AT LEAST (ethically) informed the people on their own as to whether or not they were Victims? But no, in this Machiavellian way, every repercussion is wholly piled upon the shoulders of the victimized public — so that the bottom line equation for Equifax is a $ZERO impact — while cornering the victims into a SCAM bypass of any reprieve.
“It is not that anyone imagines the law to be just. Everyone knows that there is one law for the rich and another for the poor. But no one accepts the implications of this, everyone takes for granted that the law, such as it is, will be respected, and feels a sense of outrage when it is not. Remarks like ‘They can’t run me in; I haven’t done anything wrong’, or ‘They can’t do that; it’s against the law’, are part of the atmosphere.”
I froze my credit years ago and have opted out of the system. Fuck 'em.
Equifax has delivered more than $500,000 of campaign cash to Republican lawmakers since the creation of the CFPB in 2010. During that time, congressional Republicans have waged a campaign to weaken the CFPB, culminating in this year’s Republican legislative proposals to repeal the rule and fully eliminate the agency. A top Trump-appointed regulator — former bank lawyer turned Acting Comptroller of the Currency Keith Norieka — has also previously pushed for the rule to be delayed.
According to government watchdog Public Citizen, 24 Republican senators co-sponsoring a bill to kill the arbitration rule have, over the course of their political careers, collectively received over $11 million in campaign contributions from commercial banks and over $100 million from the financial sector overall.
I read almost all the comments at Ars Technica yesterday for an article about this. Just one guy (who was writing in from a foreign country) made the outrageous suggestion, that, for an entity like this (an organization that keeps track of your credit history and gives that information to companies that want it to determine if you are a good credit risk - something that is obviously very important for your financial well-being), maybe, just maybe, you should have your federal government take care of this service, rather than these private companies. On the other hand, I read just about all the comments to the article at Washington Post, and there there was this one guy who said, oh no, we can’t have the government do this! Didn’t you hear about that time that there was a data breach at Office of Personnel Management. Well, I’d still rather the government handle this, they seem to be able to handle Social Security without too much problems.
So I don’t hear anyone asking the important question that seems ignored. Does this company have all my private information even though I have never used this company. I would guess the answer is yes if we are talking about 143m people.—And the people running the company put their own profit ahead of the customers information being stolen-----they should go straight to jail and refund all gains.<will this happen???of course not. Sen Warren speaks out on these issues----what are other leaders of the dem party saying???