In a major win for Wall Street, the U.S. Senate last night passed Senator Heller’s bill, which allows financial industry giants like Wells Fargo and Equifax to deceive consumers with fine print agreements, striping them of their right to collectively sue for wrongdoing. Heller, who American Banker magazine called a “valuable asset” to the banking industry, championed the bill after stuffing his pockets with more than a million dollars in industry campaign contributions. In addition to the $20,000 he took from Equifax’s lobbying firm, Heller has collected nearly $1.2 million from Wall Street and the commercial banking industry.
In case you missed our statement on the bill last night:
“Dean Heller lined his pockets with Equifax lobbyist money. Now he’s driving the effort to protect the company and his big donors on Wall Street with legislation to take away consumers’ rights to file class-action lawsuits. Senator Heller is the textbook example of the need to get unchecked special interest money out of politics and to get politicians out of the pockets of special interests. Over the course of the next year, ECU will hold Senator Heller accountable for giving companies like Equifax the opportunity to increase their bottom line at the expense of everyday Nevadans.”