House votes to kill consumer lawsuit ruleWASHINGTON (Reuters) - The U.S. House of Representatives on Tuesday voted overwhelmingly to erase a new rule that lets bank and credit-card customers band together in lawsuits, as the agency that drafted the measure, the Consumer Financial Protection Bureau, moves closer to the center stage of congressional politics. The Republican-led House voted 231 to 190 along strict party lines to kill the rule barring financial institutions from forcing customers to agree to take future disputes to arbitration, instead of the courts, as a condition of opening accounts. It now goes to the Senate. Under the Congressional Review Act, both chambers can vote to repeal a new rule with simple majorities.  The Republican majority in the Senate is slimmer. If the party loses just three lawmakers the CFPB rule, finalized 15 days ago, will survive. Also, the Senate calendar is currently full with healthcare and tax reform, and lawmakers may not get around to voting on the rule. Republicans say “mandatory arbitration” works quickly to garner individuals substantial awards, while group lawsuits benefit only the attorneys who file them. Democrats contend the contract clauses rob customers of constitutional rights. Because companies hire the arbitrators and proceedings are secret, they also say the process is rigged against consumers. The Senate is being pressured on both sides by major interest groups, including the pro-business Chamber of Commerce and the workers’ rights group the American Federation of Labor and Congress of Industrial Organizations. Much of the fight, though, is about the CFPB itself, which is appealing a legal decision that its structure is unconstitutional. Now that Republicans control Congress and the White House the six-year-old agency’s future is in doubt. President Donald Trump’s administration has argued against the CFPB in court, the House has approved legislation radically overhauling it, and the acting comptroller of the currency has attacked the arbitration rule. Senate Banking Committee Chairman Mike Crapo helped author the resolution to kill the new rule. Meanwhile, Senator Elizabeth Warren, a Massachusetts Democrat, held a news conference on Tuesday rallying supporters to protect it.  Warren originally came up with the idea of an agency to shield individuals from predatory lending and help prevent the type of devastation average people experienced during the 2007-09 financial crisis.  During Tuesday’s fiery floor debate, Republicans lambasted the CFPB for having a single director who both writes and enforces rules and for dictating how businesses and customers interact. Democrats cited how the agency has returned billions of dollars to wronged consumers. politicsNews
house votes kill consumer lawsuit rulewashington reuters the house representatives tuesday voted overwhelmingly erase new rule lets bank customers band together lawsuits agency drafted measure consumer financial protection bureau moves closer center stage congressional politics the house voted along strict party lines kill rule barring financial institutions forcing customers agree take future disputes arbitration instead courts condition opening accounts it goes senate under congressional review act chambers vote repeal new rule simple majorities the republican majority senate swimmer if party loses three lawmakers cfb rule finalized days ago survive also senate calendar currently full healthcare tax reform lawmakers may get around voting rule republicans say mandatory arbitration works quickly garner individuals substantial awards group lawsuits benefit attorneys file democrats contend contract clauses rob customers constitutional rights because companies hire arbitrators proceedings secret also say process rigged consumers the senate pressured sides major interest groups including chamber commerce workers rights group american federation labor congress industrial organizations much fight though cfb appealing legal decision structure unconstitutional now republicans control congress white house agency future doubt president donald trump administration argued cfb court house approved legislation radically overhanging acting comptroller currency attacked arbitration rule senate banking committee chairman mike crap helped author resolution kill new rule meanwhile senator elizabeth warren massachusetts democrat held news conference tuesday rallying supporters protect warren originally came idea agency shield individuals predatory lending help prevent type devastation average people experienced financial crisis during tuesday fiery floor debate republicans lambasted cfb single director writes enforces rules dictating businesses customers interact democrats cited agency returned billions dollars pronged consumers politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: House votes to kill consumer lawsuit ruleWASHINGTON (Reuters) - The U.S. House of Representatives on Tuesday voted overwhelmingly to erase a new rule that lets bank and credit-card customers band together in lawsuits, as the agency that drafted the measure, the Consumer Financial Protection Bureau, moves closer to the center stage of congressional politics. The Republican-led House voted 231 to 190 along strict party lines to kill the rule barring financial institutions from forcing customers to agree to take future disputes to arbitration, instead of the courts, as a condition of opening accounts. It now goes to the Senate. Under the Congressional Review Act, both chambers can vote to repeal a new rule with simple majorities.  The Republican majority in the Senate is slimmer. If the party loses just three lawmakers the CFPB rule, finalized 15 days ago, will survive. Also, the Senate calendar is currently full with healthcare and tax reform, and lawmakers may not get around to voting on the rule. Republicans say “mandatory arbitration” works quickly to garner individuals substantial awards, while group lawsuits benefit only the attorneys who file them. Democrats contend the contract clauses rob customers of constitutional rights. Because companies hire the arbitrators and proceedings are secret, they also say the process is rigged against consumers. The Senate is being pressured on both sides by major interest groups, including the pro-business Chamber of Commerce and the workers’ rights group the American Federation of Labor and Congress of Industrial Organizations. Much of the fight, though, is about the CFPB itself, which is appealing a legal decision that its structure is unconstitutional. Now that Republicans control Congress and the White House the six-year-old agency’s future is in doubt. President Donald Trump’s administration has argued against the CFPB in court, the House has approved legislation radically overhauling it, and the acting comptroller of the currency has attacked the arbitration rule. Senate Banking Committee Chairman Mike Crapo helped author the resolution to kill the new rule. Meanwhile, Senator Elizabeth Warren, a Massachusetts Democrat, held a news conference on Tuesday rallying supporters to protect it.  Warren originally came up with the idea of an agency to shield individuals from predatory lending and help prevent the type of devastation average people experienced during the 2007-09 financial crisis.  During Tuesday’s fiery floor debate, Republicans lambasted the CFPB for having a single director who both writes and enforces rules and for dictating how businesses and customers interact. Democrats cited how the agency has returned billions of dollars to wronged consumers. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: house votes kill consumer lawsuit rulewashington reuters the house representatives tuesday voted overwhelmingly erase new rule lets bank customers band together lawsuits agency drafted measure consumer financial protection bureau moves closer center stage congressional politics the house voted along strict party lines kill rule barring financial institutions forcing customers agree take future disputes arbitration instead courts condition opening accounts it goes senate under congressional review act chambers vote repeal new rule simple majorities the republican majority senate swimmer if party loses three lawmakers cfb rule finalized days ago survive also senate calendar currently full healthcare tax reform lawmakers may get around voting rule republicans say mandatory arbitration works quickly garner individuals substantial awards group lawsuits benefit attorneys file democrats contend contract clauses rob customers constitutional rights because companies hire arbitrators proceedings secret also say process rigged consumers the senate pressured sides major interest groups including chamber commerce workers rights group american federation labor congress industrial organizations much fight though cfb appealing legal decision structure unconstitutional now republicans control congress white house agency future doubt president donald trump administration argued cfb court house approved legislation radically overhanging acting comptroller currency attacked arbitration rule senate banking committee chairman mike crap helped author resolution kill new rule meanwhile senator elizabeth warren massachusetts democrat held news conference tuesday rallying supporters protect warren originally came idea agency shield individuals predatory lending help prevent type devastation average people experienced financial crisis during tuesday fiery floor debate republicans lambasted cfb single director writes enforces rules dictating businesses customers interact democrats cited agency returned billions dollars pronged consumers politicsnews