President Trump Wednesday signed a resolution nullifying the CFPB's rule governing the use of mandatory arbitration agreements—a move that was immediately praised by credit union trade groups.
"We appreciate President Trump and Congress for their leadership and listening to our concerns and working to ensure consumers and institutions have access to various forms of dispute resolution," NAFCU President/CEO B. Dan Berger said following the president's action.
Trump signed the resolution in a ceremony that included representatives of several financial services associations that included Berger and NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt.
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