Hillary Clinton Promises to Hold Wells Fargo Accountable

Hillary Clinton Promises to Hold Wells Fargo Accountable

Presidential candidate Hillary Clinton is on the campaign trail trying to get as much support from voters as she can. With Election Day getting closer, the Democratic nominee is attending campaign events, talking about where she stands on the issues.

One of the talking points of Clinton’s campaign has been closing corporate loopholes. Clinton says that she wants everyone to pay their fair share, and that includes large corporations.

At a campaign event in Ohio this Monday, Clinton spoke about Wells Fargo and said that she would hold the company accountable.

Clinton Talks about Wells Fargo

Hillary Clinton was at a campaign rally, speaking to supporters when she brought up Wells Fargo. The campaign rally was in Ohio, a battleground state that Clinton is trying very hard to win. Not just because Ohio is a very good predictor of who the next president is going to be, but because the Democratic candidate is working very hard to get the electoral votes she needs to defeat Donald Trump. The presidential election is on November 8. So Hillary Clinton has little time left to win as many votes as she can.

So, Hillary Clinton brought up the issue of large corporations and their behavior. She talked about the things they usually get away with and how she would not stand for that. She approached the scandal surrounding Wells Fargo. The company is in hot water over their employees opening millions of new accounts without the customers having any knowledge of it. Hillary Clinton called that “egregious corporate behavior”.

Clinton said that the way Wells Fargo behaved was shocking. She said that it was unacceptable for one of the country’s biggest banks to bully their employees into “committing fraud against unsuspecting customers”.

Toledo is an area that lost many manufacturing jobs in the past years. Clinton said that she wanted to “send a clear message to every boardroom and executive suite” that as president she is going to hold companies accountable. She said that she is not going to let big companies get away with scamming customers, exploiting employees and ripping off tax payers.

Plans to Help Consumers

In advance of Clinton giving her speech, the Hillary Clinton campaign released a plan outlining a way to help consumers sue large corporations. According to the plan, the consumers would sue in court instead of having to settle their disputes in private arbitration. Clauses that demand mandatory arbitration make it difficult to start a class action suit. In some situation it is almost impossible to file a class action lawsuit against a large corporation.

Clinton said that the Wells Fargo case shows how this type of agreements in the end harms consumers. She added that she’s not going to let companies like Wells Fargo use the fine print to escape accountability.

Consumer advocates are also against mandatory individual arbitration. Having the provision as part of a legal agreement makes it very difficult to take legal action. It makes it prohibitively expensive to hire a lawyer and sue in a court of law. Also, arbitration does not set a precedent, from a legal point of view. Therefore, the decision can’t help other individuals that were also affected by the same practice.

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