Briefing: Arbitration Rule Protects Servicemembers, Military Families, Victims of Wells Fargo and Equifax
Sept. 18, 2017
WHAT: U.S. Sen. Jack Reed (D-R.I.), advocates for servicemembers and consumers, and a victim of the Wells Fargo fake account scam will demonstrate the importance of the U.S. Consumer Financial Protection Bureau’s (CFPB) arbitration rule, which would ban financial companies from using forced arbitration “rip-off” clauses to deny victims their day in court. The Wednesday afternoon briefing will show how the rule would directly benefit servicemembers and military families and restore their ability to enforce congressionally enacted laws designed to protect servicemembers from financial fraud and other abuses. The briefing also will cover the impacts of the arbitration rule on Equifax and Wells Fargo customers.
Experts – including Amanda Werner, arbitration campaign manager for Public Citizen and Americans for Financial Reform – will be available after the briefing to discuss the arbitration rule and can comment on how it will protect consumers and hold companies like Wells Fargo and Equifax accountable for wrongdoing.
WHEN: 1 p.m. ET, Wednesday, Sept. 20
WHERE: Room 538, Dirksen Senate Office Building, 100 Constitution Ave. NE, Washington, D.C.
WHO: U.S. Sen. Jack Reed (D-R.I.)
John McElligot, deputy executive director, Commissioned Officers Association; co-chair, Guard/Reserve Committee, The Military Coalition
Paul Bland, executive director, Public Justice
Tracey Kilgore, Wells Fargo fake account victim, New Mexico
RSVP: Please email Michelle_Moreno-Silva@reed.senate.gov.