{"database": "press", "table": "releases", "rows": [["https://www.leahy.senate.gov/press/leahy-statement-on-the-congressional-resolution-of-disapproval-relating-to-the-cfpbs-arbitration-rule", "Leahy Statement On The Congressional Resolution Of Disapproval Relating To The CFPB's Arbitration Rule", "2017-10-24", "2017", "2017-10", "Democrat", "House", "VT", "Patrick Leahy", "L000174", "www.leahy.senate.gov", null, null, "legacy", "10.24.17\n\t\t\t Leahy Statement On The Congressional Resolution Of Disapproval Relating To The CFPB's Arbitration Rule \n\t\t\t\n\t\t\tSomething truly outrageous is happening today on the floor of the Senate.\u00a0 The resolution we will consider today signals to the American people, in no uncertain terms, that they do not deserve the right to seek justice when big banks or other financial service providers rip them off, leave their personal information exposed to hackers, or engage in discrimination.\u00a0 The resolution of disapproval before us today will strip Americans of their rights in court and will ensure that corporate wrongdoing can remain shrouded in secrecy \u2014 all to protect powerful companies like Wells Fargo and Equifax.\u00a0 \u00a0\r\nAccess to our court system is a fundamental principle in American society.\u00a0 It ensures that all those who wrong others, no matter how powerful, are equal in the eyes of the law and can be held accountable.\u00a0 That may no longer be the case.\u00a0 Access to our courts is under assault by companies that slip forced arbitration clauses into the fine print of agreements for basic services like checking accounts and credit cards.\u00a0 For some of these companies, like Equifax, consumers are not even their customers.\u00a0 They sell consumers\u2019 financial information to other companies.\u00a0 They have little incentive to protect consumers or even treat them fairly.\u00a0 That is how Equifax can actually make significant profits after it carelessly allowed the personal information of half of the adult population in the United States to be compromised.\u00a0 This is wrong.\r\nThe Consumer Financial Protection Bureau (CFPB) rightly put some commonsense limitations on the abuse of forced arbitration clauses.\u00a0 The rule provides that financial services companies cannot force consumers to sign away their right to join a class action lawsuit.\u00a0 The rule also requires more transparency when arbitration is used to ensure that wrongdoing cannot be hidden by powerful companies to keep consumers in the dark.\u00a0 Protecting consumers in this way should not be controversial.\r\nWith the blunt instrument of a resolution of disapproval, the Majority is seeking to strike the CFPB\u2019s rule and prevent it from ever implementing a similar rule in the future.\u00a0 This action, through a simple majority vote, would slam the courthouse door shut on every American who is ever ripped off by a company like Wells Fargo or has their sensitive personal information carelessly left unprotected by a company like Equifax.\u00a0 If we go down the path of striking this rule, consumers will only be left with the same empty, meaningless apologies we always hear from these companies when they are finally caught red-handed.\r\nI hope the American people are following this vote today.\u00a0 If they want to know whether their senator stands with them, or stands with corporate abusers, they will certainly find out.\u00a0 Whose side will the Senate be on when the roll call is taken on this key vote?\u00a0 The American people, and their rights as citizens and as consumers?\u00a0 Or the powerful corporate interests who are pushing to repeal this protective rule?\u00a0 We shall soon see.\u00a0\r\nThis should not be a partisan issue.\u00a0 We all represent the American people.\u00a0 It is time we act like it.\u00a0 The Vermonters I represent are watching.\u00a0 They now what is at stake by repealing this rule. I urge every Senator who shared my outrage at Wells Fargo and Equifax to take a stand and reject this shameful resolution.\n\t\t\t\n\t\t\t\t Press Contact \n\t\t\t\tDavid Carle: 202-224-3693\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t  \n\t\n\t\n\t\n  \n\t\n    \n    \n    \n    \n    \n    \t\n    \t\n\t    \t  \n\t\t    \n\t\t    \n\t\t    \tPrevious Article", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.leahy.senate.gov/press/leahy-statement-on-the-congressional-resolution-of-disapproval-relating-to-the-cfpbs-arbitration-rule"], "units": {}, "query_ms": 1.551588997244835, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}