Wednesday, October 25, 2017

Siding with Wall Street, GOP continues to fill the swamp

Consumer Bureau Loses Fight to Allow More Class-Action Suits.  (The New York Times, 10/24/2017)
“Tonight’s vote is a giant setback for every consumer in this country.”  The overturning of the rule, with Vice President Mike Pence breaking a 50-to-50 tie, will further loosen regulation of Wall Street as the Trump administration and Republicans move to roll back Obama-era policies enacted in the wake of the 2008 economic crisis. By defeating the rule, Republicans are dismantling a major effort of the Consumer Financial Protection Bureau, the watchdog created by Congress in the aftermath of the mortgage mess. [emphasis added]

On the Republican side, Lindsey Graham (South Carolina) and John Kennedy (Louisiana) were the only senators to vote 'nay'.

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