House votes to repeal consumer arbitration rule

The House voted Tuesday to repeal a controversial new rule from the Consumer Financial Protection Bureau (CFPB) that would have protected consumers’ rights to sue banks in class-action lawsuits.

Dinging CFPB, not easy as 1-2-3

DINGING CFPB, NOT EASY AS 1-2-3 — The House voted along party lines Tuesday to strike down a landmark rule from the Consumer Financial Protection Bureau, but the real fight begins in the Senate. The debate over the rule, which bars the use of mandatory arbitration clauses in consumer contracts with financial firms, is the first real battle over CFPB in a Republican-controlled Congress, setting the stage for how the aggressive watchdog agency will fare going forward.

House Votes to Void CFPB’s Recent Arbitration Rule

The House passed a resolution July 25 that would invalidate a recently adopted Consumer Financial Protection Bureau rule to prohibit financial firms from steering consumers into mandatory arbitration to resolve disputes.

Class action fight heats up before House vote

Banks, consumers and their allies joined the battle over a CFPB rule on class action lawsuits as the House plans a vote Tuesday on overturning the regulation.

Conservative groups sought to unify the Republican base against the rule, sending a letter to House and Senate leaders.

Republicans move to kill rule that made it easier to sue banks

Republican lawmakers are moving ahead to undo a rule that would make it easier for Americans to sue their banks and credit card companies.

Senate and House lawmakers on Thursday separately unveiled bills that each proposes to overturn a recent rule by the Consumer Financial Protection Bureau, which blocks companies from using arbitration clauses to stop consumers from bringing class action lawsuits.

It’s OCC vs. CFPB in tug of war over arbitration rule

The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau are engaging in a high-stakes battle over the latter agency's effort to rein in mandatory arbitration clauses, in a rare public spat between federal regulators.