Protecting Consumers from Fraud and Identity Theft
(Sacramento) – Assemblymember Matt Dababneh (D-Woodland Hills) says a hole in the California Arbitration Act allowed Wells Fargo employees to fraudulently opened numerous bank accounts without the knowledge or consent of customers. And, when consumers attempted to take Wells Fargo to court, the bank responded by forcing these individuals into secret, binding arbitration proceedings. Assemblymember Dababneh has co-authored Senate Bill 33 to ensure victims wronged by financial institutions rightfully have their day in court to recoup what they’ve lost. Learn more about the consumer protection measure in this Assembly Access video.