A Georgia appeals court overturned a ruling that found Wells Fargo and its Wall Street regulator made a secret deal to choose bank-friendly arbitrators for a case involving a former client who lost more than $1 million.
https://www.financial-planning.com/news/appeals-court-overturns-a-finding-that-wells-fargo-conspired-on-finra-arbitration
arbitration: The process by which the parties to a dispute submit their differences to the judgment of an impartial person or group appointed by mutual consent or statutory provision.
Nothing wrong with arbitration, it saves on legal fees and dealing with garbage lawsuits. Higher expenses mean lower employee salaries and higher interest rates for customers.
lol, considering that well connected corporations with zillion dollar lobbying budgets have been able to cause you physical harm, up to and including death, for the last few years with no right to sue for damages, mere financial damages seem like small potatoes.
Let’s get real. I think most people who have had the “pleasure” of dealing with Wells Fargo, in any capacity, knows that Wells Fargo will go to ANY LENGTHS to stack the cards in their favor over their clients (and employees).
I hope this client continues to try to prevail in this case.
Forced arbitration clauses between financial institutions and their clients should be 100% illegal. Why should clients not be allowed to sue WFC if they can prove that WFC intentionally caused them financial harm? It’s ridiculous.
Awesome, but let's hear what some random people on an anonymous forum of alleged employees that aren't lawyers and who don't know the details of the case think.
GA. What a cesspool of "judges"... of course they ruled in favor of corrupt bank.
nice. The last 6 years everyone’s been making up BS to steal a coin off this place. I want a raise; the parasites can go find another host to feed off.