Tom Perez on GOP Senate Reversing CFPB Rule

In response to Senate Republicans voting to reverse a Consumer Financial Protection Bureau rule that would have made it harder for large financial institutions to block class-action lawsuits from Americans who use their credit cards, auto loans, student loans, and more, DNC Chair Tom Perez released the following statement:

“Once again, Donald Trump, Mike Pence, and Senate Republicans have sided with Wall Street over the American people. By voting to reverse this rule, Republicans are gutting consumer protections and loosening Wall Street regulations to make it easier for giant financial institutions like Equifax and Wells Fargo to get away with ripping off their customers.

“While Republicans reward shady behavior and allow big banks to take advantage of hardworking Americans, Democrats will continue fighting to protect consumers from the greed and recklessness of these big corporations.”