On the recordJuly 25, 2017
I thank the Congresswoman, and I rise in strong support for the Consumer Financial Protection Bureau on the important topic of forced arbitration. I urge my colleagues to vote ``no'' on H.J. Res. 111. Forced arbitration is a modern twist to an old trick, tricking people out of their day in court. Forced arbitration tricks people out of their constitutional right to a jury trial on their claim against corporate special interests. Forced arbitration prohibits consumers from taking their case to court for a jury trial and forces the consumer into the back room with a secret arbitrator selected by the corporation who then decides the case for the corporation. It doesn't take a genius to know what happens when you get behind those closed doors. The outcome will be against the consumer. It is not fair; it is not right; and it is not justice. {time} 1615 Corporate special interests trick consumers into giving up their rights to a jury trial by hiding forced arbitration clauses in the fine print of consumer agreements that they require consumers to accept when there is no other choice. Consider the latest example from Wells Fargo, which was caught red- handed engaging in unscrupulous banking practices to the detriment of their customers. They were ruining the credit of their customers by opening millions of fake accounts in the names of their unsuspecting customers.…
