Tell the CFPB to ban the rip-off clause!
Consumers already face a stacked deck when taking on a large corporation, but forced arbitration makes it nearly impossible to beat the odds, especially when it prevents you from banding together with others to take on a big company. In forced arbitration, corporations bury "rip-off clauses" in the fine print of "take-it-or-leave-it" contracts to block consumers from challenging illegal behavior in court. Instead, big banks and abusive lenders get to decide who will arbitrate the case, what rules apply, and how much it will cost consumers -- with no real opportunity to appeal a bad decision.
Recently, the Consumer Financial Protection Bureau (CFPB) proposed a rule that places crucial limits on forced arbitration in consumer financial contracts. By restoring consumers' right to join together to hold companies accountable, the CFPB will ensure that one of the corporate avenues for forcing consumers into the unfair, biased system of arbitration is foreclosed.