Wells Fargo was able to hide their dirty practices for years
Greg Bentley, CAOC President and founding partner at Bentley & More, cowrote a piece calling out Wells Fargo for trying to cover up its dirty tactics by robing its own customers of their constitutional rights. The piece, which appeared in the Los Angeles Daily News highlights Wells Fargo’s attempt to use mandatory arbitration clauses to hide the creation of 3.5 million bogus accounts using their customers’ personal information.
Mr. Bentley and others are calling on Governor Jerry Brown to sign SB33 preventing this outrageous conduct.
The article states “Wells Fargo was able to hide their dirty practices for years because of a clause in the fine print of contracts customers had to sign to open a legitimate account. That clause forbids customers from taking Wells Fargo to court. Instead, it forces them into mandatory arbitration, a secretive proceeding overseen by an arbitrator hired by the bank.”
Mr. Bentley cowrote the article with California Treasurer John Chiang and Consumer Federation of California executive director Richard Holober.
To read the article, click here.