The CFPB is set to take action to unveil the predatory terms & conditions forced on consumers by corporations. Nobody should be forced to sign their rights away just for taking out a student loan, obtaining a credit report, or getting a car loan.
The CFPB’s proposal targets nonbank financial services that routinely abuse low-income communities and people of color who utilize these companies when traditional forms of credit are not available. Gotcha clauses that include unfair terms like forced arbitration need to be exposed – but we also need the CFPB to stop banks from using forced arbitration to escape accountability.
Earlier this week, a coalition of consumer advocates backed the CFPB’s effort to take these corporate scams to task. But we need more voices in the conversation to make sure the CFPB knows we’ve got their back on this.
Take 10 seconds to make your voice heard: spread the word on social media to say it’s time to end #GotchaClauses. If we all stand together, we will win.
