Wall Street Faces End of Arbitration Secrecy Over #MeToo Cases

When Lee Stowell saw that Congress was banning mandatory arbitration for workplace sexual harassment and assault claims, it hit home.

Years ago, the former junk-bond saleswoman sued her boss, a colleague and Cantor Fitzgerald, accusing them of harassment, discrimination and retaliation — allegations they denied. Instead of going to court, Stowell, like so many before her, was forced into arbitration’s shadow legal system.

The legislation, which President Joe Biden is poised to sign now that it cleared the Senate Thursday, will have big implications for employees, whose contracts often include mandatory arbitration provisions, and for corporations, which prefer that ...