Whitehouse Statement on Repeal of CFPB Arbitration Rule
Washington, DC – Senator Sheldon Whitehouse (D-RI) issued the following statement tonight on the Senate’s 51-50 vote to repeal the Consumer Financial Protection Bureau’s rule preventing banks and predatory lenders from taking away consumers’ legal rights to their day in court.
“Tonight, Senate Republicans dealt a major blow to consumers and delivered a big win for Equifax and Wall Street. Victims of financial scams should be able to get their day in court, but Republicans have voted to take away that sacred right. The Founding Fathers saw to it that the civil jury was a part of the American constitutional structure, and it is a shame for Republicans to overlook that history to deliver another win to powerful special interests.”
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