talking about terror in sear yar. and also with vladimir putin about syria. this working vacation continues throughout the week. he heads back to washington on sunday. jeff zeleny, cnn, west palm beach, florida. there s another story we re following about confusion over who will lead the federal consumer watchdog agency here in the united states. richard cordry stepped down midnight on friday. in his letter he named his deputy director as acting director but the president had other ideas. he named nick mulvaney to the post. as a congressman, mule veinny had voted to do away with that agency. the question now is, who will ron this agency. let s bring in an associate professor of international relations at the university of london and live in the london
protection bureau. gone is a rule forcing forced arbitration. that s in the fine print of the contracts have you with your banks, credit cards and other financial companies. it forces customers, us, to resolve disputes outside a courtroom, blocks us from banding together in class-action lawsuits. republicans call that rule an overstep by the cfpb richard cordry appointed by president obama. they claim class-action suits benefit trial lawyers not consumers. consumers say companies have all the leverage. victims from wells fargo have had trouble suing because of the arbitration clauses. this was just issued in july so those aggrieved by wells fargo can t use this. the cfpb found they struggled to open cases against their banks. the government s financial watch dog says this is a problem. the senate overruled that. appreciate it. up next, new information about the trump/russia dossier. you know it wasn t free.
disputes outside of the court system. it blocks you from banding together with other people who are aggrieved by their credit card company or bank in class-action lawsuits. republicans called the rule an overstep but richard cordry, a president obama appointee, and the white house is trying to undo anything he does. the financial lobby claims class-actions benefit trial lawyers not consumers but consumer advocates disagree. they say arbitration favors the companies. it puts the leverage and the power with the companies. a good example here, victims of wells fargo have complained they have had trouble seeing because of these arbitration clauses. they re having trouble getting justice from wells fargo. trump has vowed to loosen regulations on wall street. this is the administration s most significant loosening of post-crisis wall street regulations yet. the white house cheered the move. the vice president calls it a
together in class-action lawsuits. they call it an overstep by the consumer financial protection bureau chief richard, they say they benefit trial lawyers not consumers. consumer advocates disagree, they say arbitration favors companies. victims of wells fargo have had trouble suing because of the arbitration clauses there. trump has vowed to loosen regulations on wall street. this is the administration s most significant victory in, you know, loosening regulations for wall street yet. pence calling it a win for everyday consumers. the cfpb issued this back in july. it found customers struggled to open arbitration cases against their banks. the banks and the financial industry has all the power and leverage. interesting to pose this as a good news for the everyday consumer. yeah, i mean, it s not great news for the bank. it s not siding with the banks is not the normal populism
needs in his cabinet. some people are being held up since a year and a half when richard cordry. i think the democrats want to do this. there is a longer term risk, if republicans gain control of both houses next election, they would take it even further. i think that s there s certainly been sharp tongue reaction to this. senator mcconnell saying senator reid would go down as the worst senate leader in history. there used to be at least this appearance of camaraderie on the senate side in the past. smaller group of people. they see each other a little more often maybe. is that out the window? it could be. these are some of the most personal attacks we ve heard on the senate floor in the last couple of years. harry reid and mitch mcconnell are known for having a fairly collegial relationship so this really challenged precedent there. i think mitch mcconnell makes the case this kind of reform would really make the senate more like the house. the senate is currently a chamber where