A Halloween Nightmare for Consumers
October 27, 2017
BY: Domhnall O'Cathain
Average Joe is about to get withdrawal symptoms if he tries to sue his bank.
The Unfair Fight Against The Banks
Vice President Mike Pence visited the Senate to cast a tie breaking vote on a bill that will restrict victims of banking fraud from filing lawsuits against banks.
If President Trump signs it into law, your effort to get to justice from Wells Fargo and Equifax will probably be decided somehow by some guy, some place that you might have never heard of.
Welcome to the world of forced arbitration
Forced arbitration means that if you have a grievance with a company you cannot have your lawyer simply file a lawsuit in Court. Instead, your case will be decided by somebody who the bank knows and the bank uses time and again to decide these kinds of cases. And the amount you are fighting over means that you will probably not even hire a lawyer.
In the end, unlike our banks, you will probably just lose interest. This matters to personal injury because more and more businesses are restricting our 7th Amendment rights to sue in court and have a jury decide our cases.
Don’t believe us? Look at your gym membership, your parents’ contract at the nursing home, or your kids’ last visit to the bounce house. There is a good chance that you signed an agreement that restricted your right to bring a lawsuit in court if you or a loved one was injured by negligence or carelessness.
So, What Can Be Done?
If you think your personal injury or wrongful death lawsuit is restricted by an arbitration clause, you should still call a New Jersey Injury lawyer. Your lawyer might argue that you were not in a fair position when you signed the contract. And your lawyer can also represent you at arbitration.
If you think that you have a legitimate claim against a bank that will be restricted by the new bill, ask your Congressman or Congresswoman how he voted on the latest banking bailout.
If they decided to put Wall Street before Main Street again, they might be surprised to find themselves a-loan after the next election.