After the Equifax debacle and the Wells Fargo scandal, Republican Senators were still able to scrape by last week, voting to repeal the contentious arbitration rule, recently introduced by the Consumer Financial Protection Bureau (CFPB). Vice President Mike Pence was brought to Capitol Hill to cast the tie-breaking vote, making for a 51-50 victory … [Read more...]
US Comptroller Opposes Anti-Arbitration Rule
In July, the US House of Representatives voted to repeal the so-called Arbitration Rule, recently implemented by the Consumer Financial Protection Bureau (CFPB) and designed to prevent financial companies from mandating private arbitration for all claims brought forth by customers. Earlier this week, the Senate voted to repeal it as well, which … [Read more...]
