National Consumers League

National Consumers League condemns President Trump’s decision to side with Wall Street over Main Street


Tagged:

November 3, 2017

Contact: Cindy Hoang (202) 207-2832, cindyh@nclnet.org   

Washington, DC--On Wednesday, President Trump once again sided with Wall Street executives over the middle class by signing a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau’s (CFPB) arbitration rule. The rule, the result of years of study and a congressional directive would have restored consumers’ constitutional right to access the courts when companies like Wells Fargo defraud them.

The following statement is attributable to Sally Greenberg, National Consumers League executive director:

“It is a hallmark of the American justice system that when individuals are wronged, they can seek justice through the courts. With a stroke of his pen, President Trump stripped away that right from millions of consumers. When companies like Wells Fargo break the law and open nearly 1.4 million fraudulent accounts without their customer’s consent, consumers must be able to band together and hold corporate wrongdoers accountable. Congress and President Trump’s decision to take away this basic protection underscores the need for NCL to work harder than ever to fight to restore consumers’ fundamental legal rights including, the right to sue when they are harmed by big corporations.”

###

About the National Consumers League

The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.