On the recordOctober 24, 2017
Mr. President, what Congress is trying to do today, this evening, as long as it takes, as long as the arms are twisted, is frankly outrageous. Our job is to look out for the people whom we serve, not to look out for Wells Fargo, not to look out for Equifax, not to look out for Wall Street banks, not to look out for corporations who scam consumers. Forced arbitration, pure and simple, takes power away from ordinary people. It gives it to the big banks, it gives it to Equifax, it gives it to Wells Fargo, it gives it to Wall Street companies that already have an unfair advantage. We know the White House increasingly looks like a retreat for Wall Street executives. I would hope the Senate wouldn't follow suit. Look at Equifax. In early September, we learned it compromised the personal data of more than 145 million Americans'--5 million in my State, probably twice that in the Presiding Officer's State--names, dates of birth, addresses, Social Security numbers, driver's licenses, more than half the adult population of the United States of America. So how did Equifax respond? By immediately trying to trick customers--their consumers, their customers--into signing away their rights to access the court system in exchange for credit monitoring. So here is what Equifax did in simple terms. Equifax said: Oh, we will give you a free year of credit monitoring; sign right here. Oh, yeah, when you sign right here, the fine print says: but you can't ever sue us.…
Source
govinfo.gov




