Democracy Now!

What It Means: Overturning of Rules Allowing People to Sue Banks

After nine months of struggling to deliver on their legislative priorities, Senate Republicans found unity Tuesday when they overturned a rule that makes it easier for Americans to sue banks and credit card companies. The rule was developed by the Consumer Financial Protection Bureau and would have allowed people to file class action lawsuits that could have cost the banks billions of dollars. We get an update from Public Citizen’s Amanda Werner, who recently dressed as Rich Uncle Pennybags, with a top hat and monocle, and sat directly behind former Equifax CEO Richard Smith when he testified about a security breach that left sensitive personal information for 143 million Americans exposed to hackers.

Read more