A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by Bureau of Consumer Financial Protection relating to "Arbitration Agreements".
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Committee
Latest Action · July 20, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This joint resolution nullifies a rule submitted by the Consumer Financial Protection Bureau (CFPB) regarding arbitration agreements.
(The rule regulates the use of arbitration agreements in contracts for specific consumer financial products and services. It prohibits the use of a predispute arbitration agreement to prevent a consumer from filing or participating in certain class action suits. The rule also requires consumer financial product and service providers to furnish the CFPB with particular information regarding arbitrations.)
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