Troops Face Illegal Repossession & Foreclosure Upon Return
Chris Welsh, Esq.
Forced arbitration affects everyone. From the apps you buy to your job contract, chances are you have signed away your right to trial. What’s
more, forced arbitration too often takes advantage of people that need the most help, and most respect.
A new report by the NY Times exposes the harsh reality of forced arbitration’s reign. Their investigation has revealed that big corporations, even USAA and JPMorgan Chase, are using fine print to erase liability for violating the federal rights of veterans and servicemembers. The stories are widespread and gut-wrenching: servicebmembers facing abrupt repossession while away or upon returning home–with no legal protections. Their only option is mandatory arbitration in a corporate tribunal…and we all know how that goes.
On top of everything, pursuant to the Servicemembers Civil Relief Act (“S.C.R.A”), active duty military members and their families are protected from repossession and foreclosure without a court order. Still, financial institutions laugh in the face of this law. Allegedly, it is violated thousands upon thousands of times. Making matters worse, forced arbitration is a divide-and-conquer scheme. In other words, arbitration clauses make it so that the thousands of military members cannot band together against their wrongdoers.
It’s high time we call out the corporations exploiting our servicemembers. Share this NY Times story with clients, family, and friends on Facebook or by email. You can also sign the petition telling the Consumer Financial Protection Bureau to end forced arbitration.