The headline says it all
Wells Fargo Customers May Never See Their Day in Court, Experts Say
Link: NBC Business
The reason is simple; Wells Fargo employed the law firm of Dewey, Screwum, and Howe. These slick guys inserted a mandatory arbitration clause deep in the bowels of the bank’s fine print and weasel words so in order to open an account with the stagecoach bank you agree to “…mandatory arbitration contract clauses that protect banks from class-action suits.”
The short version is as a bank customer,” you have the right to remain silent…” because by opening an account you waive all your rights to legal protection.
Oh, lest you think this unique, go read your Internet service agreement or other consumer contracts. The software I’m using to write this blog is not mine even though hundreds of dollars were paid to acquire it. I don’t own the software, just a license to use it. It still belongs to Microsoft.
Like home ownership, much that you pay good money for is not really yours; you just use it at the pleasure of the King and his agents.