It was the kind of victory that appeared ripe for President Trump and Republicans to celebrate — the repeal of a rule that bankers and credit unions agreed would only raise costs on customers.
The passage of a repeal bill was particularly noteworthy given that the president has struggled to see his agenda enacted nearly 10 months after taking office, including passage of any significant legislation.
But when it came time to sign the bill on Nov. 7, Trump did so in the least Trumpian way possible — out of the public spotlight. The signing ceremony, attended by financial services industry leaders and top Republicans, was closed to press.
Trump made no mention of Republicans’ overturning the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses on his Twitter feed and the White House made note of it only in a short press release. It was almost like the administration didn’t want anyone to know about it.continue reading »