If you know anything about the rights of the common man in the U.S. this is a really bad idea. Banks really haven't had their feet put to the fire yet even for causing the Great Recession with Credit Default Swaps (which bankers invented in the first place)!

So, why would you give U.S. citizens less protection from Banks screwing the whole economy up again? And Trump is a part of this screw up by rich white bankers stealing in various ways from the Middle Class and poor of the U.S. and the whole world.

 

 begin quote from:

Senate votes to kill
rule that made it
easier to sue banks

Senate votes to kill rule that made it easier to sue banks

By Ted Barrett

Updated 11:12 PM ET, Tue October 24, 2017

United States Secretary of the Treasury Steven Mnuchin speaks at a White House press briefing.

(CNN)Vice President Mike Pence cast the tie-breaking vote Tuesday night to repeal a rule that made it easier for Americans to sue their banks and credit card companies.

Senators passed the measure by a vote of 51-50. The Consumer Financial Protection Bureau rule blocks companies from using arbitration clauses to stop consumers from bringing class action lawsuits.

Many companies tuck arbitration clauses into contracts as a way to resolve disputes outside the court system, making it harder for an individual to bring a case against a bank or credit card company.

Wiping out the rule would affect tens of millions of Americans who often don't know they are covered by an arbitration clause when they sign up for a credit card, checking account or prepaid card.

The Treasury Department released a report Monday opposing the rule, saying it would favor trial lawyers over consumers by prompting frivolous lawsuits.