For Immediate 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."