Amanda Werner ( https://twitter.com/wamandajd ) dressed as “Monopoly Man” and crashed today’s Senate Banking Committee hearing to try to prevent Senate Republicans from stripping American consumers of the protection of the CPFB (Consumer Financial Protection Bureau). Soon, she was trending on Twitter & Reddit as people tried to figure out who she was. TYT’s Eric Byler ( https://twitter.com/EricByler ) caught up with her moments after the hearing ended.
Werner works for Public Citizen and Americans for Financial Reform, who write in their press release:
The Senate leadership is pushing to roll back the U.S. Consumer Financial Protection Bureau’s arbitration rule using the Congressional Review Act’s (CRA) expedited process and has until early November to act. The rule allows consumers to join together in class actions to challenge wrongdoing in court. Widespread wrongdoing and negligence at Wells Fargo and Equifax and their attempts to evade legal accountability using forced arbitration “rip-off” clauses have transformed the issue from an obscure regulatory debate into a leading national story.
Forced arbitration clauses buried in the fine print of take-it-or-leave-it contracts may be the single most important tool that predatory banks, payday lenders, credit card companies and other financial institutions have used to escape accountability for cheating and defrauding consumers. These clauses push disputes into secretive arbitration proceedings rigged to favor financial companies and conceal wrongdoing from regulatory authorities. The average consumer forced into arbitration ends up paying more than $7,700 to the bank or lender, according to the Economic Policy Institute.
Published on Oct 4, 2017