Dems Wield Equifax, Wells Fargo In Fight Over Arbitration

WASHINGTON (AP) — Equifax and Wells Fargo. Democrats determined to stop Republicans from overturning a consumer-oriented rule are using the scandals roiling both companies to hammer the GOP's efforts. A hack of Equifax's computer system exposed the sensitive personal information of 143 million Americans. Wells Fargo was fined $100 million by federal regulators for its illegal sales practices in which employees trying to reach unrealistic sales goals opened accounts without customers' permission. In July, the Consumer Financial Protection Bureau decided to ban most types of mandatory arbitration clauses.

 

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