Washington, DC – U.S. Sen. Cory Booker (D-NJ) issued the following statement after voting against Senate Republican efforts to reverse the so-called “arbitration rule” consumer protection:
“It’s remarkable that Senate Republicans’ response to the Equifax data breach and corrupt behavior at Wells Fargo is to strip consumers of their legal right to hold these and other bad actors accountable.
“Tonight’s vote was crystal clear: rather than standing with consumers to fight to protect their day in court, Senate Republicans chose to carry the water for bad actors like Wells Fargo and Equifax. The fine-print language Senate Republicans want to again permit financial institutions to use has been called the ‘ripoff clause’ for a reason: it gives them license to tilt the scales away from consumers, and escape responsibility for wrongdoing.
“Tonight’s vote isn’t in the best interest of everyday Americans. It’s in the best interest of big corporations.”
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