The Californian recently published a report on how our congressional representatives voted on a bill that would repeal the provision of allowing class-action suits against the banking industry. They voted in favor of repealing the provision.
Apparently, Mr. McCarthy and Mr. Valadao suffer from short-term memory loss. They don’t recall the 2016 banking malfeasance that had been in the news: signing up customers for services they didn’t need or want without their knowledge. Mandatory arbitration on that scale? Give me a break. That action resulted in a large fine for the bank.
News flash, Mr. McCarthy and Mr. Valadao: banks are not our friends. Witness the recession mess banks were partly responsible for during George W. Bush’s presidency because laws were not in place to curtail the fox from eating the chickens.
Now is not the time to forgive and forget. Left unchecked, banks will repeat their nefarious history.
— John Siercks, Bakersfield