Wednesday, October 25, 2017

Senate votes to repeal CFPB’s rule on arbitration

Last night, during Game 1 of the World Series, the Senate passed House Joint Resolution 111, which would repeal the Consumer Financial Protection Bureau’s rule on arbitration agreements (covered earlier here). The CFPB’s rule would prohibit providers of certain consumer financial products and services from using an arbitration agreement to bar consumers from filing or participating in a class action. 

The vote was 50-50, with Vice President Pence breaking the tie. (The vote in the House of Representatives back in July was 231-190.)

 

 

 

 

http://lawprofessors.typepad.com/civpro/2017/10/senate-votes-to-repeal-cfpbs-rule-on-arbitration.html

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