Business groups, including the American Bankers Association,have filed suit asking a federal judge to nullify the CFPB’s recent arbitration rule.
And the groups, which also includes the U.S. Chamber ofCommerce, asked that the agency be prohibited from enforcing therule until its constitutionality can be determined.
Credit unions did not join the groups in filing the suit, buthave been active in attacking the rule on other fronts. Creditunion trade groups have been pushing the Senate to void the rulethrough the Congressional Review Act.
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