Wed, 29 November 2017
95% of Americans polled said they wanted the right to sue in court, banks and financial institutions they believed had cheated them. 89% said they wanted the right to file class-action lawsuits. Well, too bad for them, as the Trump Administration and Republicans in Congress have just overturned a rule that enabled both such legal actions and restricted the banks’ right to compulsory arbitration. Ira Rheingold, executive director the National Association of Consumer Advocates on what this means for you and your banker.