Vice President Mike Pence cast the tie-breaking vote in the Senate last night in favor of H.J. Resolution 111 that repeals the Consumer Fraud Protection Bureau’s (CFPB) new rule to limit financial institutions’ use of arbitration clauses. The House voted to repeal the rule – which was scheduled to go into effect in 2019 – in July.

As a result, banks and credit card companies are free to continue to insert clauses into their contracts requiring consumers to go through arbitration to settle disputes, rather than join class-action lawsuits.

“Tonight’s vote is a giant setback for every consumer in this country. Wall Street won and ordinary people lost. This vote means the courtroom doors will remain closed for groups of people seeking justice and relief when they are wronged by a company,” CFPB Director Richard Cordray said in a statement. “It preserves a two-tiered justice system where banks can have their day in court but deny their customers the same right. It robs consumers of their most effective legal tool against corporate wrongdoing. As a result, companies like Wells Fargo and Equifax remain free to break the law without fear of legal blowback from their customers. I urge President Trump to stand with consumers and veto this resolution.”

A White House statement released last night read, in part, “By repealing this rule, Congress is standing up for everyday consumers and community banks and credit unions, instead of the trial lawyers, who would have benefited the most from the CFPB’s uninformed and ineffective policy.”

The resolution heads next to Trump, who is expected to sign it.