Mike Pence casts tie-breaking vote to cancel Obama-era rule favoring class-action suits against banks


(Worthy News) – 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.

Two Republicans, Lindsey Graham of South Carolina and John Kennedy of Louisiana, voted no, forcing Pence to break the tie.

The rule in question, commonly referred to as the forced-arbitration rule, was drafted during former President Barack Obama’s tenure and finalized in July by Bureau Director Richard Cordray, an Obama appointee. It prevents banks and other financial firms from including clauses in contracts that steer customers away from class-action suits and into private arbitration. [ Source: Washington Examiner (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Latest Worthy News

US Watchdog: Syrian Government Allies Continue Deadly Attacks Against Christians and Other Minorities (Worthy News In-Depth)
Federal Judge Halts Medicaid Defunding Provision Targeting Planned Parenthood in Trump-Backed Spending Law
Trump Defends Bolsonaro, Slams Brazil’s Coup Trial as ‘Witch Hunt’
U.S. Tariff Revenue Projected to Exceed $300 Billion in 2025, Inflation Unaffected, Treasury Says
Trump Reverses Course, Vows More Weapons for Ukraine Amid Escalating Russian Attacks
Trump, Netanyahu Unveil Controversial Postwar Gaza Vision Amid Ceasefire Push and Regional Strikes
USAID Shipped 11,000 Virus Samples to Wuhan Lab Without Formal Agreement or Oversight, Documents Reveal
IRS Says Churches Can Endorse Political Candidates Without Losing Tax-Exempt Status
Iranian Missiles Struck Five Israeli Military Bases During 12-Day War, Satellite Data Reveals
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News