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Action-A-Day 8/3: Keep consumer banking protections in place

ACTION: Call your senators and ask that they oppose  HJ Resolution 111 which would prevent consumers from participating in class action lawsuits against financial institutions.

SAMPLE SCRIPT: Hello. My name is _____ from [zip code]. I am calling to urge Senator [name] to vote no to HJ Resolution 111 which would overturn the Consumer Financial Protection Bureau's arbitration rule. The CFPB's rule protects consumers from predatory lending practices.

Senator Chris VanHollen 202-224-4654
Senator Ben Cardin 202-224-4524

BACKGROUND INFO: Many financial instituions use mandatory arbitration clauses in their agreements and contracts which mandate that consumers use private arbitration companies to settle disputes, rather than the court system. These clauses prevent consumers from being able to join class action lawsuits when they are  the victims of predatory and illegal banking practices. July 10, 2017 the Consumer Financial Protection Bureau announced a new rule that bans these mandatory arbitration clauses. On July 20, 2017 Representative Keith Rothfus of Pennsylvania introduced a resolution to the House to overturn this rule and on July 25, 2017 it passed in the House 231 to 190 thanks to the GOP members.  The rule was created by the CFBP to protect consumers and it is now being threatened by GOP leaders who accept millions in campaign contributions from major financial institutions.

REFERENCES:
White House Statement
HJ Resolution 111 Full Text
HJ Resolution Vote Results from the House