October 25, 2017
Senator Hassan Statement on Repeal of Critical Consumer Protection Rule
WASHINGTON – Senator Maggie Hassan released the following statement today after Senate Republicans voted to repeal the Consumer Financial Protection Bureau’s (CFPB) forced arbitration rule, which helped to ensure that consumers are not forced to forfeit their rights in settling disputes with big banks and other financial firms.
“I am disappointed that my Republican colleagues have put corporate special interests ahead of hard-working Americans by repealing the Consumer Financial Protection Bureau’s arbitration rule. This rule helped ensure that consumers are not forced to forfeit their rights in settling disputes with big banks and other financial firms and served as a powerful tool for consumers to hold financial institutions accountable. In light of the recent scandals at Wells Fargo and Equifax, it is more important than ever that consumers have this vital tool at their disposal. I will continue working to protect consumers from corporate special interests, and continue standing up for all hard-working Granite Staters and Americans.”
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