Will Equifax Ever Be Held Accountable For Its ‘Rookie Mistakes’?

For a few bracing weeks this fall, consumers harmed by Equifax, Wells Fargo or another financial institution had the right to their day in court.

But in late October, Senate Republicans voted to overturn the newly minted rule by the Consumer Financial Protection Bureau, which gave consumers the right to join class-action lawsuits against banks, credit bureaus and lenders. Now  consumers’ only recourse is a secret arbitration hearing – which corporations win 93 percent of the time.