Supporters of the CFPB's arbitration rule expressed alarm Tuesday that Senate Republicans may move to a vote this week on a resolution to repeal the agency's rule under the Congressional Review Act.

If the Senate passes the resolution, it would go to President Trump who is expected to sign it.

Supporters of the rule said that recent scandals at Wells Fargo and Equifax emphasize the need to allow consumers to join class action suits. 

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.