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Acting Comptroller Forgoes CFPB Arbitration Rule Challenge

Law360, New York (July 31, 2017, 12:56 PM EDT) -- A banking regulator appointed by President Donald Trump on Monday announced that he will not seek to eliminate the Consumer Financial Protection Bureau’s arbitration rule, leaving a potential vote in Congress the biggest threat to the regulation.

Acting Comptroller of the Currency Keith Noreika said Monday he didn't file a petition challenging the arbitration rule with the Financial Stability Oversight Council within the 10-day time frame. (Getty) Acting Comptroller of the Currency Keith Noreika, who had previously raised concerns that the CFPB’s rule eliminating class action...
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