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For Immediate Release

Press Release

House Repeals Consumer Protection Arbitration Rule

WASHINGTON -

The House voted to repeal the Consumer Financial Protection Bureau's rule that ‎made it easier for consumers to take joint legal action against banks and lenders.

Eric LeCompte, Executive Director of the religious development group Jubilee USA, releases the following statement:

"We need regulations that make our financial system more transparent and accountable, not less.

"It's unfortunate the House of Representatives moved to repeal consumer bank and credit card protections.‎"

###

Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.

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