House revokes new CFPB arbitration rule

The U.S. House of Representatives passed a “resolution of disapproval” to revoke a controversial new rule by the Consumer Financial Protection Bureau that bans companies from using mandatory arbitration clauses. Under the Congressional Review Act, Congress may overturn a broad range of regulatory rules issued by federal agencies. But as Republicans worked together to block the rule, Democrats were just as quick to defend it, along with the CFPB. …read more

From:: Real Estate Wire