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LABOR News

March 8, 2017
Bank of Labor Welcomes National Consumers League following NCL Actions protesting Wells Fargo Policy

 

WASHINGTON, D.C. — The Bank of Labor’s Washington, DC, office today issued the following statement regarding recent actions by the National Consumers League protesting Wells Fargo’s policy on mandatory arbitration.

“As the nation’s only bank that is labor majority owned and operated, we enthusiastically welcome the National Consumers League as a client. The NCL’s decision to withdraw its operating capital from Wells Fargo and open an account with Bank of Labor speaks not only to the mutual respect between our two organizations but also to our common focus on serving the needs of workers and promoting social justice.

“The NLC is renowned for protecting the interests of consumers and workers. We are honored that they have entrusted their funds to Bank of Labor, where a customer’s legal rights are not restricted by a policy of mandatory arbitration common with many large Wall Street Banks.”