Now more than ever, we need to stand up for the Consumer Bureau and keeping Wall Street in check.
On Tuesday, October 24, Vice President Pence broke a 50-50 deadlock in the Senate, overturning the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses. This rule would have prevented financial firms from using small-print in contracts that prevent class action lawsuits, which make it nearly impossible for consumers without the financial resources to take on big banks.
This vote leaves all of us open to being tricked into unfair forced arbitration practices which are designed to favor Wall Street over working Americans.
