On the recordSeptember 18, 2019
When Wells Fargo opened up 3.5 million fake accounts, including 178,972 from Arizona, Wells Fargo tried, since 2013, to use forced arbitration to block lawsuits, including a class-action case. These people were charged excess overdraft fees when their accounts were not overdrawn. As it relates to labor, there are 60.1 million workers who make up a majority of nonunion private-sector employees who are subject to forced arbitration clauses. These employees are told that if they want the job or want to keep their current job, they must sign away their right to their day in court and submit to forced arbitration agreements. In contrast, the collective bargaining process includes protections that are unavailable to many nonunion workers, such as rejecting unfair employment terms. In collective bargaining, both the company and the union are represented by counsel and can agree on arbitration before the dispute arises to an informed and transparent basis. The collective bargaining process can also involve agreement over other important protections, such as truly neutral arbitrators, better procedures, and transparent decisionmaking. Mr. Speaker, I yield 3 minutes to the gentleman from Maryland (Mr. Raskin), a distinguished member of the Rules Committee.
