Earlier quoted context omitted.
First, no, contracts do not generally become void just because one party committed a crime. Not that it really matters because, second: >when the bank willfully and egregiously commits criminal acts Wells Fargo has not been found guilty of committing criminals acts at all, much less willfully and egregiously. There are some ongoing criminal investigations, and they were hit by some civil penalties. But there have bee…
From above: Consumer Financial Services Agreements: As of May 5th, the Consumer Financial Protection Bureau has proposed a rule that would prohibit mandatory arbitration clauses in financial services agreements that limit access to class action lawsuits. Once formalized, this rule would apply to all contracts, including those already signed. Although such a rule would not necessarily prohibit mandatory arbitration fo…
> Judges in California and federal courts have ruled arbitration clauses signed by customers when they opened legitimate accounts prevent them from suing even over allegedly fraudulent accounts created without their knowledge.
http://www.latimes.com/business/la-fi-wells-fargo-arbitratio...
Laws have been proposed to change this. Of course, given the election results, I highly doubt the bills, or the proposed CFPB rule you mention are going anywhere.