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Consumer Financial Protection Bureau

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House revokes new CFPB arbitration rule 

Jul 25, 2017By

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.

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