The U.S. Senate is likely to vote as soon as today or tomorrow on whether to roll back important financial protections for consumers and servicemembers.
The rule, rolled out by the Consumer Financial Protection Bureau this summer, banned forced arbitration provisions in financial contracts that prevent harmed consumers from banding together in court. This allows consumers to hold wrongdoers fully accountable. But, due to pressure from big bank lobbyists, the new rule may be in jeopardy.
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The threat to property owners filing insurance claims in the wake of Hurricane Harvey is real. Earlier this year, the Texas Legislature passed HB 1774, which reduces incentives for insurance companies to pay claims on time and in full. More aptly referred to as the Blue Tarp Bill, the legislation prolongs the rebuilding process for communities and keeps blue tarps on roofs longer.