- Did the Vote Pass? Yes
- Voted Yea 47
- Voted Nay 48
- Didn't Vote 0
- Voted Present 0
The CFPB’s arbitration rule is, in reality, a giveaway to trial lawyers. The rule ostensibly bans contractual arbitration clauses related to consumer financial products offered by banks and other financial sector firms. This severely limits consumers’ ability to enter into arbitration during disputes.
Arbitration is an easier and quicker process for consumers to resolve issues, but lawyers don’t make much money from this process. The rule, however, will encourage trial lawyers to pursue more class-action lawsuits, which take longer and result in smaller payouts to consumers. But class-action lawsuits do bring in big dollars for trial lawyers.
Class-action lawsuits can take two to five years to resolve, and the average payment is $32.35 per individual. These class-action suits, for which trial lawyers are paid an average of roughly $1 million, also drive up costs to consumers. By comparison, arbitration typically takes two to five months, with an average payment of thousands of dollars. It’s clear which process truly protects consumers.
Legislator's Votes
Official's Name | Party | District | Voted |
---|---|---|---|
Republican |
TN |
Yea |
|
Republican |
WY |
Yea |
|
Republican |
MO |
Yea |
|
Republican |
AR |
Yea |
|
Republican |
Yea |
||
Republican |
WV |
Yea |
|
Republican |
LA |
Yea |
|
Republican |
ME |
Yea |
|
Republican |
TN |
Yea |
|
Republican |
TX |
Yea |
|
Republican |
AR |
Yea |
|
Republican |
ID |
Yea |
|
Republican |
TX |
Yea |
|
Republican |
MT |
Yea |
|
Republican |
WY |
Yea |
|
Republican |
IA |
Yea |
|
Republican |
NE |
Yea |
|
Republican |
AZ |
Yea |
|
Republican |
CO |
Yea |
|
Republican |
IA |
Yea |
|
Republican |
ND |
Yea |
|
Republican |
OK |
Yea |
|
Republican |
GA |
Yea |
|
Republican |
WI |
Yea |
|
Republican |
OK |
Yea |
|
Republican |
UT |
Yea |
|
Republican |
AZ |
Yea |
|
Republican |
KY |
Yea |
|
Republican |
KS |
Yea |
|
Republican |
AK |
Yea |
|
Republican |
KY |
Yea |
|
Republican |
GA |
Yea |
|
Republican |
OH |
Yea |
|
Republican |
ID |
Yea |
|
Republican |
KS |
Yea |
|
Republican |
SD |
Yea |
|
Republican |
FL |
Yea |
|
Republican |
NE |
Yea |
|
Republican |
SC |
Yea |
|
Republican |
AL |
Yea |
|
Republican |
AL |
Yea |
|
Republican |
AK |
Yea |
|
Republican |
SD |
Yea |
|
Republican |
NC |
Yea |
|
Republican |
PA |
Yea |
|
Republican |
MS |
Yea |
|
Republican |
IN |
Yea |
|
Democrat |
WI |
Nay |
|
Democrat |
CO |
Nay |
|
Democrat |
CT |
Nay |
|
Democrat |
NJ |
Nay |
|
Democrat |
OH |
Nay |
|
Democrat |
WA |
Nay |
|
Democrat |
MD |
Nay |
|
Democrat |
DE |
Nay |
|
Democrat |
PA |
Nay |
|
Democrat |
DE |
Nay |
|
Democrat |
NV |
Nay |
|
Democrat |
IL |
Nay |
|
Democrat |
IL |
Nay |
|
Democrat |
CA |
Nay |
|
Democrat |
MN |
Nay |
|
Democrat |
NY |
Nay |
|
Republican |
SC |
Nay |
|
Democrat |
NH |
Nay |
|
Democrat |
NM |
Nay |
|
Democrat |
ND |
Nay |
|
Democrat |
HI |
Nay |
|
Democrat |
VA |
Nay |
|
Republican |
LA |
Nay |
|
Independent |
ME |
Nay |
|
Democrat |
MN |
Nay |
|
Democrat |
Nay |
||
Democrat |
WV |
Nay |
|
Democrat |
MA |
Nay |
|
Democrat |
MO |
Nay |
|
Democrat |
NJ |
Nay |
|
Democrat |
OR |
Nay |
|
Democrat |
CT |
Nay |
|
Democrat |
WA |
Nay |
|
Democrat |
FL |
Nay |
|
Democrat |
MI |
Nay |
|
Democrat |
RI |
Nay |
|
Independent |
VT |
Nay |
|
Democrat |
HI |
Nay |
|
Democrat |
NY |
Nay |
|
Democrat |
NH |
Nay |
|
Democrat |
MI |
Nay |
|
Democrat |
MT |
Nay |
|
Democrat |
NM |
Nay |
|
Democrat |
MD |
Nay |
|
Democrat |
VA |
Nay |
|
Democrat |
MA |
Nay |
|
Democrat |
RI |
Nay |
|
Democrat |
OR |
Nay |