Wells Fargo: Wanting to Appear Contrite, While Just Doing More Fraud

The insistence by Wells Fargo that the victims of its bogus account-opening scandal seek redress via arbitration, rather than in court, remains the best indication that the bank’s promise to “make things right” for those customers is fake.

We’ve pointed out before that big companies like Wells Fargo love to force customers into arbitration because the companies are heavily favored in the process. They’re repeat players, so they have familiarity with the system.
They can stick customers with half the cost of arbitration, even if the customers win, increasing the customers’ risk. And they can bar customers from filing class actions, which for a corporation is a big plus.

A new study shows just how advantageous arbitration has been for Wells Fargo. Short answer: For the bank, it’s been great. . . .

To read the rest click here.  You can also see the study below.

The Consumer Review Fairness Act protects consumers’ ability to share their honest opinions about a business’s products, services, or conduct in any forum – and that includes social media.

The Consumer Review Fairness Act (CRFA) protects people’s ability to share their honest opinions about a business’s products, services, or conduct, in any forum, including social media.

Contracts that prohibit honest reviews, or threaten legal action over them, harm people who rely on reviews when making their purchase decisions. But another group is also harmed when others try to squelch honest negative reviews: businesses that work hard to earn positive reviews.

The Consumer Review Fairness Act was passed in response to reports that some businesses try to prevent people from giving honest reviews about products or services they received. Some companies put contract provisions in place, including in their online terms and conditions, that allowed them to sue or penalize consumers for posting negative reviews.

What kind of reviews does the law protect?

The law protects a broad variety of honest consumer assessments, including online reviews, social media posts, uploaded photos, videos, etc. And it doesn’t just cover product reviews. It also applies to consumer evaluations of a company’s customer service.

What does the Consumer Review Fairness Act prohibit?

In summary, the Act makes it illegal for a company to use a contract provision that:

-- bars or restricts the ability of a person who is a party to that contract to review a company’s products, services, or conduct;

1. -- imposes a penalty or fee against someone who gives a review; or
   
2. -- requires people to give up their intellectual property rights in the content of their reviews.
   

What specific conduct is prohibited by the statute? 

The Consumer Review Fairness Act makes it illegal for companies to include standardized provisions that threaten or penalize people for posting honest reviews. For example, in an online transaction, it would be illegal for a company to include a provision in its terms and conditions that prohibits or punishes negative reviews by customers. (The law doesn’t apply to employment contracts or agreements with independent contractors, however.)

How to Buy a Used Car
TOP ELEVEN* TIPS FOR BUYING A USED CAR
Save thousands of dollars
Get a better, safer car
Avoid common auto dealer scams
 
1. Either save your money and pay cash
 
or
 
Join a local credit union and establish credit with them. It usually costs only about $25 to join. Ask them to help you improve your credit score, so you can get the best possible deal. Most credit unions offer courses in financial counseling and are happy to help members improve their credit scores. Sometimes a simple step, such as transferring a balance, can boost your score and save you a bundle.

GREAT tips on how to get the best deal on financing a car, even if you have bad credit.

Note: you may get a lower interest rate if you buy a new, or nearly new, car.

2. Find the best cars in your price range, at Consumer Reports. Here's a list of vehicles recommended by Consumer Reports, from less than $4,000 to over $20,000:  Read the list of best used vehicles for under $20,000

3. Decide what make, model and year of car is the best deal for you. If you decide to get a loan, get it from your credit union or a bank -- NEVER from a dealer. Pre-qualify for a loan, before you shop for a car.

4. Check online sites or local newspapers for "by owner" ads for the make / model and model year you have selected.

5. Choose a car offered for sale by the owner. Beware of "curbstoners" -- shady dealers who pose as the owner, but are actually dealers. Avoid auto dealers. Buy locally. Avoid cars sold sight unseen or in a different state. Insist that the owner show you his or her identification and the title to the car. Make sure the names and addresses match. Insist on seeing past service records, and review how well the vehicle has been maintained. Contact the former repair shop and ask them if they know of any major repairs that need to be done.

6. Check for Safety Recalls. This is a MUST. Why? According to Carfax, over 36 million vehicles on the road today are under a safety recall. There's only one reason they are being recalled by the manufacturer. That's because they are unsafe. Typical defects: stalling in traffic, loss of steering, axles that break, air bags that explode and send shrapnel into the driver's face, seat belts that fail to protect in a crash, wheels that fall off, and cars that burst into flames without warning.

Don't become a victim of "recalled car roulette." Get the Vehicle Identification Number (VIN) of the car you're thinking of buying. Then check it online for FREE. Here's where to check, on the National Highway Traffic Safety Administration's website: https://vinrcl.safercar.gov/vin/ Just enter in the VIN. You should receive a message that tells you if there are any unrepaired safety recalls. Sometimes, a vehicle has multiple safety recalls that have not been done. Either find another vehicle that has no safety recalls, or insist that the seller take care of them all BEFORE you buy. Sometimes it may take months before the repair parts are available. So -- don't get stuck driving a ticking time bomb, that you can't get fixed for months. Some consumers have been injured or killed within hours of driving off the lot in a vehicle that had a hidden safety defect. It's not worth the risk.

7. Inspect the car closely yourself. Look for telltale signs of prior damage, such as:

•  -- Paint overspray
  
• -- Stickers on the driver door jamb that show higher mileage than on the odometer
  
• -- Work orders for repairs that show higher mileage than on the odometer
  
• -- Ill-fitting parts, such as gaps between the doors and body, or a hood or trunk that doesn't close right
  
• -- Shimmy in the steering wheel when you drive at freeway speeds
  
• -- Tires that are worn unevenly
  
• -- Car is out of alignment
  
• -- Title brands noted on the title, such as "salvage," "junk," "flood," or "rebuilt" -- these vehicles tend to be very unsafe, and are worth far less than vehicles with "clean" titles. Keep in mind that a "clean" title does not mean the car wasn't damaged. Many states have very lax laws that allow junkers to evade title brands. Some crooks also alter or erase titles, to raise their profits from selling junkers.
  
• -- Signs of flood damage:
  
•      --- Silt or rust in odd places, such as in crevices, the trunk, under carpeting
  
•      --- Electrical glitches (may be caused by corrosion from flooding)
  
•      --- Musty smell, mold or mildew
  

8. Have the car inspected by [an INDEPENDENT] reliable, trustworthy mechanic [YOU FOUND FOR YOURSELF] BEFORE you agree to buy or give the seller any money. To find a good mechanic, check out Car Talk's Mechanics Files -- with reviews written by other consumers -- at: www.cartalk.com/content/mechanics-files. Tell the seller where you want them to take the car, for the inspection. If you can get the time, go to the shop for the inspection.

9. AFTER the car checks out OK and the mechanic confirms that it's safe to drive, test-drive the car. Arrange to meet the owner at a safe, public place for the test drive, preferably during daylight. If you have family members or other passengers who will be riding with you, ask them to go with you for the test drive. If they're going to object to the car, better to know before you buy. If you plan to drive with children secured in the back seat, make sure their child safety seats fit properly.

Consumer Reports provides more tips for how to make the most from a test drive, at: www.consumerreports.org/cro/cars/car-buying-advice/guide-to-new-car-buying/at-the-dealership/the-test-drive/0702driv0.htm.

=======================> See * below < ==========================

10. Negotiate a fair deal. IF the car checks out OK, ask the mechanic how much he thinks it's worth. Also check pricing services such as Kelly Blue Book or True Car. If the car needs more repairs, either have the seller pay to have it fixed, or offer them less. This is a major advantage to getting an expert inspection -- you are in a better position to negotiate a good deal.

11. Complete the sale. Contact your insurance company and make sure they're ready to cover you from the moment you put your key in the ignition -- or press the "start" button. Either pay with a cashier's check or get a check from your credit union for the price of the car, made out to the seller. Arrange with the seller to meet you at your local motor vehicle department or the AAA to do the paperwork. Be prepared to pay the applicable sales tax and licensing fees. Make sure that you get a receipt from the seller, and properly transfer the title.


[ *  The only thing I would add to this list (between steps 9 and 10) to make the list an even dozen is that you should contact YOUR own insurance company before you buy and find the exact monthly or annual insurance premium you will have to pay if you buy that car, especially if you are financing the car and will be required to carry collision and comprehensive coverage on it.
    Insurance costs can vary wildly across different makers and even across the cars made by the same company. Insurance is a huge part of the ownership cost of the car, so make sure you are figuring the cost to insure the car into your budget before you buy!]

Enjoy your newly purchased car.
Drive Safely and Happily for a Long Time!!