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Congress votes to disallow consumers from suing Equifax and other companies with
Started by: Rage.Of.Olympus

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Rage.Of.Olympus
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Congress votes to disallow consumers from suing Equifax and other companies with

https://techcrunch.com/2017/10/24/c...ion-agreements/

quote:
The Senate voted late Wednesday night to strike a federal rule that would have allowed consumers affected by the Equifax hack to sue the company. Without it, the millions affected by the historic security breach may be disallowed from related joining class action lawsuits. This specific rule, and only this rule, would be nullified if the joint resolution is signed by the President.

The vote was 50/50, with the tie-breaking yea cast by Vice President Pence.

The rule in question was entered into the Federal Register by the Bureau of Consumer Financial Protection in July; it prevents financial companies that bind their users by arbitration agreements from prohibiting those same users from suing as a class.

The final rule prohibits covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing or participating in a class action concerning the covered consumer financial product or service.

That’s exactly like what the terms of Equifax’s services included when users went to the company’s site to see if they were affected by the hack. Although the site in question appears to have been essentially useless, it shunted users into an Equifax-provided service with terms that bound disputes to be resolved via arbitration.

Equifax later modified some of its terms to remove the arbitration clause, and also indicated in its TrustedID service FAQ that the clause “applies to the free credit file monitoring and identity theft protection products, and not the cybersecurity incident.”

Nevertheless, it’s very unclear just what users may or may not have signed up for, and to what degree Equifax is protected by these terms. Arbitration agreements have been effective before in preventing class action lawsuits. The BCFP rule was made to prevent major incidents like this one from having their legal repercussions partly nullified;

H.J. Res. 111 was introduced on July 20, the day after the rule above was instituted. Its entire purpose is to disapprove of that specific rule.

It passed the House on July 25 231-190, split right down party lines except for one defecting Republican who voted nay with the Democrats. In the Senate, it was split 50/50, with two Republicans — Louisiana’s John Neely Kennedy and South Carolina’s Lindsay Graham — joining the Democrats with nays. The VP broke the tie and the Joint Resolution passed shortly before 10PM Eastern time. The Monopoly Man was not present.

It’s not entirely clear what effect, if any, this would have on the Equifax situation specifically, since the company has voluntarily limited the scope of its arbitration terms, although clearly it is a serious blow to consumer protections at large.


This enrages me on a fundamental level and I'm not American. Call your reps, tell your friends etc.


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Old Post Oct 25th, 2017 10:57 AM
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Rockydonovang
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And off course CNN is going to be covering something something Russia or something something intra-party beef instead while Fox just whistles and turns their head the other way.

Remember when policy was the focus of news, not redundant speculation?

Old Post Oct 25th, 2017 12:45 PM
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carthage
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They have to protect Trumps donors and Golf buddies somehow


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Old Post Oct 25th, 2017 02:05 PM
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ArtificialGlory
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This is so, so f**ked.


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Old Post Oct 25th, 2017 02:08 PM
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dadudemon
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They should poll the American People.


And if the American people agree that Equifax should be sued, then we just need to determine by what margin Americans believe this. If it is greater than the margin that the polls had Trump losing (meaning, those same polls predicted Trump would lose but he won...so that margin was usually off by 2-5%), then we know the numbers are correct.

My guess is, greater than 95% of the American people want Equifax to be suable. Which means the politicians are in the "Equifax" lobbyists pockets. We need to get rid of our politicians. They are not representing us. Elect other people.


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Old Post Oct 25th, 2017 02:12 PM
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Bashar Teg
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quote: (post)
Originally posted by Rockydonovang
And off course CNN is going to be covering something something Russia or something something intra-party beef instead while Fox just whistles and turns their head the other way.

Remember when policy was the focus of news, not redundant speculation?


not true, though. cnn just likes to drag their asses, is all. journalism was way less lazy when there were print deadlines to meet.

http://www.cnn.com/2017/10/24/polit...peal/index.html


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Old Post Oct 25th, 2017 02:41 PM
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socool8520
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This is pretty messed up considering some articles I have read on Arbitration have the company winning 94% of the time. The only plus for arbitration it seems is that it is faster.


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Old Post Oct 25th, 2017 06:39 PM
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Robtard
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"Vice President Mike Pence cast the tie-breaking vote Tuesday night to repeal a rule that made it easier for Americans to sue their banks and credit card companies.
Senators passed the measure by a vote of 51-50, handing Wall Street its first major win since President Donald Trump took office in January.

Two Republican senators, Lindsey Graham of South Carolina and John Kennedy of Louisiana, sided with Democrats in opposition to the resolution."
-snip

Guess this is what's going to "Make America Great Again". Oh Trumpers...

Kudos to Graham and Kennedy for at least trying to stand up for the people though.


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Old Post Oct 25th, 2017 06:47 PM
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Flyattractor
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I would think I would rather see the people that did the hacking be caught and made to pay for their crimes but oh well...


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Old Post Oct 25th, 2017 06:50 PM
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socool8520
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^ Can't they catch the hackers and hold the companies accountable?


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Old Post Oct 25th, 2017 06:51 PM
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Flyattractor
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Isn't that kind of like You being held accountable if your house gets burglarized?


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Old Post Oct 25th, 2017 06:55 PM
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socool8520
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No. I'm not holding your items in my home and guaranteeing safety of said items. If that were the case, then yes, I would be accountable.


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Old Post Oct 25th, 2017 06:56 PM
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Flyattractor
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So did these Banks and Other Companies take absolutely not steps to protect their customers and information?


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Old Post Oct 25th, 2017 06:57 PM
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quote: (post)
Originally posted by socool8520
No. I'm not holding your items in my home and guaranteeing safety of said items. If that were the case, then yes, I would be accountable.


Should really have added: "Then left the door open with a sign on the lawn reading valuables inside" ie negligence


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Old Post Oct 25th, 2017 06:57 PM
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socool8520
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quote: (post)
Originally posted by Robtard
Should really have added: "Then left the door open with a sign on the lawn reading valuables inside" ie negligence


I knew I forgot something.


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Old Post Oct 25th, 2017 06:58 PM
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Flyattractor
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quote: (post)
Originally posted by Robtard
Should really have added: "Then left the door open with a sign on the lawn reading valuables inside" ie negligence


Tsk Tsk. Such a biased view point to take.


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Banned 30 days for the Crime of "ETC"... and when I "ETC" I do it HARD!!!
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Old Post Oct 25th, 2017 06:58 PM
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Kurk
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I'm more pissed that Paul Walker's daughter can sue Porsche over something as ridiculous as that accident.


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Old Post Oct 25th, 2017 07:00 PM
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quote: (post)
Originally posted by socool8520
I knew I forgot something.


It's what I'm here for, buddy


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Old Post Oct 25th, 2017 07:00 PM
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socool8520
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quote: (post)
Originally posted by Kurk
I'm more pissed that Paul Walker's daughter can sue Porsche over something as ridiculous as that accident.


I never read the full story on his death. Wasn't the driver going way too fast?


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Old Post Oct 25th, 2017 07:03 PM
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Bashar Teg
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quote: (post)
Originally posted by socool8520
No. I'm not holding your items in my home and guaranteeing safety of said items. If that were the case, then yes, I would be accountable.


quote: (post)
Originally posted by Robtard
Should really have added: "Then left the door open with a sign on the lawn reading valuables inside" ie negligence


sometimes all you need is a jpeg

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Your Lord knows very well what is in your heart. Your soul suffices this day as a reckoner against you. I need no witnesses. You do not listen to your soul, but listen instead to your anger and your rage.

Old Post Oct 25th, 2017 07:03 PM
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