your "Fixed Market" at work.
Wall Street celebrated after Vice President Pence cast the tie-breaking vote in the Senate to block regulations allowing consumers to sue their banks.
“The rules would have cost the industry billions of dollars, according to some estimates. … At issue is the fine print in many of the agreements that consumers sign when they apply for credit cards or bank accounts. These agreements typically require them to settle any disputes they have with the company through arbitration, in which a third party rules on the matter, rather than going to court or joining a class-action lawsuit. The [Consumer Financial Protection Bureau] rule would block mandatory arbitration clauses in some cases, potentially allowing millions of Americans to file or join a lawsuit to press their complaints. After more than four hours of debate, the Senate voted 51 to 50 to block its implementation.”
Free Market my ass.
Free to those who want to manipulate it for their benefit maybe.
Here's the question, if you weren't practicing shady business practice to begin with?
Why would you force customers to settle disputes through arbitration?
The third part that does the arbitration in most cases?
From what I've read?
Ex-bankers.
Who do you think they're gonna side with?
Oh, and guess who gets to pick the arbitrator?
Yeah, the bank.
Like I've said, if this is your free market?
You can fucking have it.
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