Senate Kills Rule On Class-Action Suits Against Financial Companies
The rule, released by the Consumer Financial Protection Bureau in July, was aimed at "forced arbitration" clauses in consumer agreements with banks and credit card companies.
The Senate has voted to get rid of a banking rule that allows consumers to bring class-action lawsuits against banks and credit card companies to resolve financial disputes.
With Vice President Mike Pence casting the tie-breaking vote, the roll-back of the banning restrictive mandatory arbitration clauses found in the fine print
