We all know that Obama was almost not in control with the illegal immigration. The man just could not handle those problems well. Yet another thing that he ruined to some point was the law. To be precise, he basically left every greedy lawyer to destroy our financial institutions. To some this may not surprise them, because they know that Mr. Obama is Mr. Lawyer himself. He maybe felt fulfilled when he would have seen his team win over the backs of banks and businesses. The news is that a new bill is on its way, thanks to Vice President Pence, There will be an end to at least one of these terrible laws.
From Town Hall:
The White House is welcoming a congressional measure killing the ability of millions of Americans to band together to sue bank or credit card companies to resolve financial disputes in a major win for Wall Street.
The Senate narrowly voted late Tuesday night to nullify the rule, with Vice President Mike Pence casting the final vote to break a 50-50 tie. The measure now goes to President Donald Trump for his signature.
“President Donald J. Trump applauds the Congress for passing,” the resolution, the White House said in a statement shortly after the vote that highlighted its own Treasury Department report criticizing the rule. “The rule would harm our community banks and credit unions by opening the door to frivolous lawsuits by special interest trial lawyers…”
The vote reflects the effort of the Trump administration and congressional Republicans to undo regulations that the GOP argues harm the free market.
We don’t see the full damage caused by the Obama administration, for sure. Years will pass until we see a change for good because it is not easy to overturn all the bad polices and laws.
Nobody needs a law that will give power just to the lawyers, nobody wants to be a witness of the terror that happened when we use the bank and nobody wants to be sued for a minor problem. We need change.
PatriotJournal reported: Anyone who has been a part of a class-action lawsuit know they result in small gains. You’re lucky if you got a few bucks for your trouble. The alternative, arbitration, allows a specific complaint to be resolved quickly and amicably.
There are better solutions for bank problems than court battles. This revoke will protect all the institutions we depend on.
What is your opinion on this post? Do you thing we need changes?
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