Dems Offer Bill To Bar Arbitration On Wells Fake Accounts

Law360, New York (December 1, 2016, 5:13 PM EST) -- Congressional Democrats on Thursday introduced legislation that would bar Wells Fargo & Co. or any other financial institution from enforcing arbitration agreements on accounts created without customer consent as lawmakers and others continue to blast Wells for attempting to do just that.

The Justice for Victims of Fraud Act of 2016, introduced by Ohio Sen. Sherrod Brown, the ranking Democrat on the Senate Banking Committee, and Rep. Brad Sherman of California, a Democratic member of the House Financial Services Committee, comes as Wells Fargo has gone...
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