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After Taking $1.5 Million from Wall Street, Heller Joins McConnell to Protect Big Banks at the Expense of Nevadans

Last night, Nevada’s Republican Senator Dean Heller cast the deciding vote to block a new Consumer Financial Protection Bureau rule allowing consumers to sue the Big Banks, “handing Wall Street and other big financial institutions their biggest victory since President Trump’s election.”

Nevada State Democratic Party spokesperson Stewart Boss released the following statement on Heller’s vote:

“Companies like Equifax have hurt Nevadans and tried to escape accountability, and Senator Heller just cast the deciding vote to help them deceive consumers and strip them of their rights with fine print agreements. Preventing regular people from having the ability to file class-action lawsuits against Big Banks and other major financial institutions is a gift to Wall Street. Senator Heller has filled his campaign coffers with more than $1.5 million from Wall Street and the banking industry, so it’s no surprise that he’s toeing the party line with Mitch McConnell on this issue.”

BACKGROUND

Heller Voted To Nullify CFPB Rule That Prohibited Mandatory Arbitration Clauses. In October 2017, Heller voted for: “Passage of the joint resolution that would nullify and disapprove of a Consumer Financial Protection Bureau rule that prohibits mandatory arbitration clauses in consumer contracts related to financial services and products.” The motion was agreed to, 51-50, with Vice President Pence casting “yea” vote to break tie. [CQ 10/24/17; H.J. Res 111, Vote 249, 10/24/17]