Home | About | Donate

Taking on 'Rip-Off Clauses,' New Proposal Allows Consumers to Join Together to Sue Big Banks


#1

Taking on 'Rip-Off Clauses,' New Proposal Allows Consumers to Join Together to Sue Big Banks

Andrea Germanos, staff writer

A new proposal from the U.S. financial watchdog for consumers has been applauded for its ability to help prevent big banks from evading liability for wrongdoing.

Consumer Financial Protection Bureau's proposal, unveiled Thursday, curtails mandatory arbitration clauses in financial products like credit cards, bank accounts, and student loans, thereby affording consumers the power to join together in class action lawsuits to sue a financial company.


#2

Sounds good unless our Republican President can get the TPP pushed through. Then it's in the wind. Hillary would end it, can't mess with her biggest donors.


#3

So that's where TTP and TTIP has it's origins, the American banksters.


#4

If her handlers manage to squeak her in by hook and by crook her presidency will be mired in inaction, mass unrest and legal entanglements.


#5

The alarm and shock of banksters and their political minions at the gall of Joe Public demanding the removal of rip-off clauses is oh so stinkin' rich! Imagine that, champions of corruption think, wanting to have legal balance between the rich and poor so that the rich can't just have their way. Can't accept that social justice and equality extremism crap lol. It would interfere with our rights to dominate the majority and own government. What would we do if we were like all the normal, poor people?!!!!!


#6

CFPB, a government agency somehow will prevent big banks from evading liability for wrongdoing. Who writes these articles?


#7

It is possible that some responsible people in this department are actually trying to do their job.


#8

Corporations are people right?

Banks in the USA receive a subsidy each year from the US Government. This is taxpayer money given to the banks directly. In reaction to the suggestion these subsidies be ended the banks claim it a violation of their Constitutional rights and a theft of their property.


#10

If corporations can they will stop it...if not now later on down the road if they can get a bunch of crooked GOP asholes elected than can pass new laws making the old laws null n void..thats how they work they slowly change the rules here and there and acomplish the mission.....Just like citizens united..I wonder how long they planned and plotted that one and the conservative justices played along....and now they want to make out right bribery legal....How long have they been planning that and they are counting on the conservative justices to hand them that one.....Once some high and mighty conservsative Justice finds some way to word criminality into legality bing bota bing the fix is in.