Senate kills new rule allowing class-action lawsuits against banks after Pence casts deciding vote

WASHINGTON - The Senate voted Tuesday night to kill a controversial rule that would have allowed Americans to file class-action suits against banks instead of being forced in many cases into private arbitration.

The move by the Senate followed a similar action by the House in July to rescind the rule. President Donald Trump is expected to sign the repeal legislation, providing a major victory for the financial industry. Vice President Mike Pence cast the deciding vote after the Senate tied 50-50.

The rule was unveiled in July by the Consumer Financial Protection Bureau and praised by