Senate Strikes Down Class-Action Lawsuit Rule
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From the Center
Republicans, Wall Street score victory in dismantling class-action rule
Banks, credit card issuers and other financial companies will be able to block customers from banding together to sue over disputes, after the U.S. Senate on Tuesday narrowly killed a rule banning the firms from using “forced arbitration” clauses.
From the Right
Mike Pence casts tie-breaking vote to cancel Obama-era rule favoring class-action suits against banks
With Vice President Mike Pence casting the deciding vote, the Senate voted late Tuesday night to undo a rule issued by the Consumer Financial Protection Bureau that would bar financial firms from contracts that rule out class-action lawsuits related to their products. The measure now goes to President Trump's desk.
From the Left
While you aren’t looking, the GOP continues to gut financial oversight
While Washington – and political Twitter – remain consumed by the battle of words between President Trump and Tennessee Senator Bob Corker, not to mention the latest attempts by the Republicans to move tax reform forward, an important Republican effort to weaken financial oversight and accountability is proceeding onward behind the scenes.
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