Trump Receiving Praise From Paxton For Rescinding Banking Rule

(Austin, TX) — President Trump is getting kudos from Texas Attorney General Paxton for repealing the Consumer Protection Bureau’s Arbitration Rule. The rule allowed consumers to file class action lawsuits against banks and providers of financial services to resolve disputes. Abolishing the rule now sends any disputes between banks and consumers to arbitration. Paxton says the rule raised the cost of credit for Americans and deprived them of a resource to resolve disputes with banks and financial institutions.