Texas Watch

Episode 19: Consumer Scandals and the #RipOffClause

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Wells Fargo. Equifax. Recent consumer scandals have brought to light important questions of how we could have prevented millions of consumers from being put at financial risk. Enter the Consumer Financial Protection Bureau, which announced a rule this summer to ban forced arbitration provisions in financial contracts that prevent harmed consumers from banding together in court. This allows consumers to hold wrongdoers fully accountable in court. But, the new rule may be in jeopardy. This month, we talked to Public Justice Executive Director Paul Bland and Public Citizen Arbitration Campaign Manager Amanda Werner about what the new rule would mean for consumers.