(CNN) 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.

Wiping out the rule would affect tens of millions of Americans who often don't know they are covered by an arbitration clause when they sign up for a credit card, checking account or prepaid card.

Many companies tuck arbitration clauses into contracts as a way to resolve disputes outside the court system, making it harder for an individual to bring a case against a bank or credit card company.

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