The U.S. Senate is likely to vote as soon as today or tomorrow on whether to roll back important financial protections for consumers and servicemembers.
The rule, rolled out by the Consumer Financial Protection Bureau this summer, banned forced arbitration provisions in financial contracts that prevent harmed consumers from banding together in court. This allows consumers to hold wrongdoers fully accountable. But, due to pressure from big bank lobbyists, the new rule may be in jeopardy.
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