Clinton has Mylan and Wells Fargo in her sights with plans to target "bad corporate actors"

Billy Bambrough
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Clinton is hoping to score points in the polls by going after corporate giants
Clinton is hoping to score points in the polls by going after corporate giants (Source: Getty)

US presidential candidate Hillary Clinton is set to go after "bad corporate actors", she's expected to say in a speech later.

The Democratic hopeful plans to make it easier for consumers to take legal action against the likes of Wells Fargo and Mylan, who have recently both had run ins with regulators and corporate watchdogs.

According to Clinton's campaign, if elected on 8 November Clinton is expected to scrap existing legislation that means consumers resolve legal disputes with companies in private arbitration proceedings instead of in courts.

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The announcement is expected to single out US lender Wells Fargo and the maker of allergy drug Epipen Mylan.

The polls have narrowed in recent weeks as the election date nears, though Clinton has had a resurgence from last week's presidential debate. Financial markets crowned her the debate victor.

Mylan came under pressure last month after Clinton and a senator whose daughter uses the product piled criticised the company's pricing strategy.

The cost of a standard two-pack of Epipens has risen to around $600 from $100 in 2009. Drug pricing has become a major issue in the US as public opinion turns against big pharma firms and politicians jump at the opportunity to score some easy points in the polls.

Mylan bowed to public pressure and said it will put out a generic version of the Epipen – available in both 0.15mg and 0.30mg strengths – that will have a list price of $300 (£229) for a two-pack.

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Meanwhile, Wells Fargo was rocked in recent weeks by a fraud scandal involving 2m accounts that were opened without the knowledge of customers.

The bank is now facing fresh legal action from both employees and investors over the scandal, it was revealed last week.

Wells Fargo agreed to pay a $185m fine for creating the accounts and is now looking at class action lawsuits from employees who were let go over the claims and investors who have suffered a paper loss of around 12 per cent since the start of the month.

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