Arbitration Repeal Passes Senate, 51-50

Arbitration Repeal Passes Senate, 51-50

On October 24th during the late hours, a slim majority of Republicans in the Senate voted to pass Senate Joint Resolution¬†47, which repeals a rule issued by the Consumer Financial Protection Bureau that made it easier for Americans to sue their banks and credit card companies. Vice President Mike Pence issued the deciding vote to repeal CFPB’s arbitration rule and block consumers from suing financial giants like Equifax and Wells Fargo.

Republican Senators John Kennedy (R-LA) and Lindsey Graham (R-SC) voted against the measure.

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