Yes, that's Mike Pence "proud" that he cast a vote to lock ordinary people out of the courtroom and force them into arbitration with big banks, a move that neither protects consumers nor community banks.
It does, however, help out the Wells Fargos of the world, right alongside the Equifax shareholders while screwing all of those people who voted for Donald Trump, as Stephanie Ruhle explains.
"Let's say you've got an issue with a big company. Legal action is your main way to fight back against these big companies. But these clauses force you into private arbitration preventing people from pooling their resources into class action lawsuits."
The CFPB studied this phenomenon and opened the door via regulation for consumers to go ahead and file class action lawsuits against banks and other financial institutions which cause consumers to lose money or opportunities or take their homes from them with phony paperwork or drag their feet on mortgage refinancing until interest rates rise. All the things the Bank of Americas and Wells Fargo Banks do routinely, not to mention the investment bankers who caused the Great Recession and should have been sued out of existence if they couldn't be put in jail.
