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Published by mdamian, 2017-11-07 12:13:38

Profiles in Success- NCL

Profiles in Success- NCL

PROFILES IN SUCCESS National Consumers
League + Bank of Labor
= Common Values

NCL urges consumers and organizations of the primary reasons is that Wells
to walk away from Wells Fargo. Fargo forced its staff to open
more than two million phony bank
After learning of Wells Fargo’s hesitation, they chose Bank of accounts without their consumers’
unscrupulous practice of opening Labor. consent to generate fees and
unauthorized customer bank penalties. We moved our money
and credit card accounts and NCL Executive Director Sally to Bank of Labor because BoL
collecting millions of dollars Greenburg said, “We wanted does not have a mandatory or
in bogus fees, the National a consumer- and labor-friendly ‘forced’ arbitration provision. It is
Consumers League joined a broad bank, and we were fortunate to also union-owned and unionized.”
coalition of pro-consumer groups find a strong banking partner who
to launch a national campaign to matched up with our values. This Forced arbitration clauses
get like-minded organizations to has been a great move for us. We are intended to prevent
stop banking with Wells Fargo. couldn’t be happier.” customers from going to court;
the corporation provides the
The NLC then searched for After six years of banking with private arbitration forum, controls
a new banking partner, one that Wells Fargo, the NCL moved its the process, and there is no
shared its commitment to social operating funds to Bank of Labor. requirement that arbitrators follow
and economic justice. Without the law and or provide a right of
“We did this for several appeal. That means that there is no
reasons,” said Greenburg. “One formal record, no legal precedents
are set and everything is done in
the secrecy of a private arbitration.

NCL presents first deposit at Bank of Labor’s Washington, D.C. office— Bank of Labor
National Consumers League Executive Director Sally Greenburg presents Bank partners with
of Labor Senior Vice President Labor Market Development Bridget Martin with
NCL’s first deposit. Martin praised NCL for its 118-year record of supporting unions and
labor and consumers. supporters to

REBUILD
AMERICA.

PROFILES IN SUCCESS That is bad for consumers. office: “We can make our job a record of supporting labor and
Mandatory arbitration is part lot easier starting [now] when consumers.
we stop giving our money to
of a decades-long campaign those who use it against us day “The National Consumers
waged by the Chamber of in and day out. Let’s give it to the League has long been a
Commerce and corporate people that use it for us.” champion for the rights of those
America against consumer rights. who, if standing alone, would
Bank of Labor’s Senior Vice have a difficult time obtaining fair
United Mine Workers of President for Labor Market treatment and justice from powerful
America President Cecil Roberts Development, Bridget Martin, organizations. That certainly
said during the opening of Bank praised the NCL for its 118-year meshes well with our mission of
of Labor’s Washington, D.C. supporting the National Labor
Movement and working families.”
“We can make our job a lot easier …
when we stop giving our money to
those who use it against us.”

~ United Mine Workers of America President Cecil Roberts

Labor allies support NCL and Bank of Labor—seated, left to right: Maritime Trades Department AFL-CIO Karen Duncan,
Coalition of Black Trade Unionists Gwend Johnson, AFL-CIO Building Investment Trust Mike Stotz, Labor Heritage Foundation
Elise Bryant. Standing, left to right: Bank of Labor Alicia Paige, Labor Heritage Foundation Fran Owens, AFL-CIO Building
Investment Trust Puja Arora, NCL Sally Greenburg, Bank of Labor Bridget Martin, ULLICO Ed Smith, Asian Pacific American
Labor Alliance Ken Gonzales, National Community Reinvestment Coalition Gerron Levi, NCL Cindy Hoang, APALA Tammy
Truong, North America’s Building Trades Union Tom Krigger.

Main: 855.24.LABOR | DC: 202.756.5671 | BankofLabor.com |


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