Gratz USA: You Can No Longer Class Action Sue Banks

[DarkTZeratul]

So does this mean I can't sue equifax if someone uses my information now?

Sure you can. But they have much better lawyers than you. They also have much more money than you, so they can just draw things out long enough that you go bankrupt trying to fight them.

[Gray_Matter]

If a bank fucks you, you sue, you win and get paid. If you need some random class action law firm you never heard of tell you that you have been or may have been fucked.......please sign on the dotted line, odds are you probably weren't injustice to the point where you could even notice. Companies get sued all the time, by people, by the government, etc. All this does is start by cutting out the lawyers who are more akin to ambulance chasers than those actually looking to help their clients.

That's the point here. You can no longer sue. You have to go to arbitration instead.

[Dontrike]

Wow, are you guys big mad or little mad? I thought the Republicans weren't accomplishing anything?

No one should be happy about anyone doing something like this to the American people. This has nothing to do with "you guys", as in one particular side, but them fucking over everyone, but instead you'd rather see it as "librol tirs" instead of you getting fucked over as well.

This is the issue right now, you'd rather see everyone get fucked over if it means making a select group feel bad. It shows how short sighted and biased you are.

[Kujako]

So does this mean I can't sue equifax if someone uses my information now?

Did you sign up for their services? Then you can't sue. Same with the whole Wellsfargo fake accounts thing. Can't sue.

[Ripster42]

That's the point here. You can no longer sue. You have to go to arbitration instead.

You can no longer sue in a class action suit. Each person has to bring their case individually. It's just that a poor person has no chance in court alone.

For all the people talking about how lawyers reap the majority of benefits from class action lawsuits: we know. They're still the best option for getting any sort of justice from bad actors with major financial backing. The point of them anymore is to make the bad action so financially untenable that the actors have to reform their practices, whether through direct fines or the publicity the massive trial attracts.

[Shaderas]

You can no longer sue in a class action suit. Each person has to bring their case individually. It's just that a poor person has no chance in court alone.

For all the people talking about how lawyers reap the majority of benefits from class action lawsuits: we know. They're still the best option for getting any sort of justice from bad actors with major financial backing. The point of them anymore is to make the bad action so financially untenable that the actors have to reform their practices, whether through direct fines or the publicity the massive trial attracts.

Actually the big problem is that almost all the banks have an arbitration clause in their contract/agreements that basically forces consumers to go through Arbitration (I work for Wells Fargo, but not in any customer facing role btw). I'm not sure how enforceable this particular point is, though. I think the consumer could argue something about a Contract of Adhesion; this may suffer some difficulty though, while the major banks all have these arbitration clauses written in, a counter point could be that there are many non-national banks that the customer could have gotten accounts through (credit unions, smaller banks, etc).

This shouldn't have applied to the accounts opened without authorization by Wells Fargo (and other banks, yes they did it too), because if you can prove you never authorized an account, you can state that any arbitration clause in an agreement or contract wouldn't apply to you, as you never technically agreed to it.

[DarkTZeratul]

I'm not sure how enforceable this particular point is, though.

Enforceable enough that Congress prohibited them from doing that. And then repealed that prohibition because stupid reasons.

This shouldn't have applied to the accounts opened without authorization by Wells Fargo (and other banks, yes they did it too), because if you can prove you never authorized an account, you can state that any arbitration clause in an agreement or contract wouldn't apply to you, as you never technically agreed to it.

Unless you opened one account and they opened ten more. Then you're fucked.