Clinton expected to hit Wells Fargo in speech on 'bad corporate actors'

By REUTERS
October 3, 2016 07:24

 
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US presidential candidate Hillary Clinton on Monday will unveil a plan to make it easier for consumers to take legal action against "bad corporate actors," citing Wells Fargo & Co and Mylan Pharmaceuticals, according to a campaign official.

While campaigning in Ohio, the Democratic nominee will explain how she would, if elected on Nov. 8, curb the prevalence of contractual clauses that require consumers, employees and other individuals to resolve legal disputes in private arbitration proceedings instead of in courts, her campaign said.

Mandatory arbitration clauses sometimes require that claims be pursued on an individual basis instead of on behalf of a class of similarly situated individuals. Consumer advocates say this makes it prohibitively expensive to take legal action.

Clinton will call on the US Congress to give agencies such as the Federal Trade Commission, the Federal Communications Commission and the Department of Labor the authority to restrict the use of arbitration clauses in consumer, employment and antitrust agreements, according to a preliminary plan reviewed by Reuters.

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