We sent the Monopoly man to the #Equifax hearing to send a message: Forced arbitration gives @Equifax a monopoly over our justice system. pic.twitter.com/6pPtqLNPig
— Public Citizen (@Public_Citizen) October 4, 2017
Money does really matter for Rich Uncle Pennybags. Surprisingly, he even went out of his way to attend a government hearing.
The iconic Monopoly mascot, in full costume plus a fake mustache, made a surprising appearance in Capitol Hill in Washington, DC, for the Senate banking committee inquiry on the Equifax data breach.
But his appearance was for a serious cause. The move, organized by the groups Public Citizen and Americans for Financial Reform, is a campaign to call out financial companies such as Equifax and Wells Fargo by scheming its clients by forced arbitration, as reported by the Huffington Post.
His appearance upstaged former Equifax CEO Richard Smith’s testimony of taking “full responsibility” for the breach of personal information of some 143 million Americans, according to the US Federal Trade Commission.
Public Citizen campaign manager Amanda Werner, who dressed as Pennybags, tweeted a photo of herself to raise awareness of forced arbitration by using “get-out-of-jail,” an option popular in the board game.
Hello! The Monopoly Man is here to raise attention to Equifax’s get-out-of-jail-free card, forced arb. #RipoffClause https://t.co/RL7LF9ZtaX pic.twitter.com/9NjrzDxDlv
— The Monopoly Man (@wamandajd) October 4, 2017
“Make no mistake: Arbitration is a wicked game, one that the bank nearly always wins,” Werner said in a Public Citizen press release.
Meanwhile, Americans for Financial Reform Executive Director Lisa Donner is optimistic that the US Consumer Financial Protection Bureau (CFPB) will give consumers justice against forced arbitration moves.
“The CFPB has restored people’s right to take Wall Street banks, payday lenders and other bad financial actors to court if they rip people off and break the law,” Donner said in a statement. “Overturning it would be handing companies like Wells Fargo and Equifax a tall stack of get-out-of-jail-free cards – for use whenever they want.”
The US Senate is currently pushing for rollback of the CFPB’s arbitration rule, letting consumers band together in joint effort to call out and file charges against companies that use “rip-off” clauses–making them get away with accountability. Katrina Hallare /ra
