Missouri’s DC House Republicans Just Voted to Tilt Balance Further in Favor of Wall Street
As Republicans in the U.S. House of Representatives voted yesterday to make it more difficult for consumers to hold big banks accountable, the Missouri Democratic Party is calling out Missouri’s DC House Republicans for advancing the priorities of Wall Street at the expense of working Missourians.
Here’s what the bill does:
The Republican bill in Congress guts a newly established rule from the Consumer Financial Protection Bureau (CFPB), which was created to protect consumers in the aftermath of the 2008 financial meltdown, that “prohibits major financial institutions…from imposing any contractual fine print that would stop consumers from banning together to bring a class action lawsuit.”
Missouri Democratic Party Chair Stephen Webber added:
“Missourians working hard to provide health and financial security for their families already have enough to worry about. The last thing they need is Missouri’s Republicans in DC using their offices to tear down consumer protections to make Wall Street even more powerful.”
Missouri’s Republican Representatives in the U.S. House Ann Wagner (MO2), Blaine Luetkemeyer (MO3), Vicky Hartzler (MO4), Billy Long (MO7), and Jason Smith (MO8) voted in favor of the bill yesterday. Representative Sam Graves (MO6) did not vote.