We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Trump Officially Kills CFPB Arbitration Rule

Law360, New York (November 1, 2017, 4:35 PM EDT) -- President Donald Trump on Wednesday officially eliminated a Consumer Financial Protection Bureau arbitration rule that would have given consumers the chance to file class actions against banks and other financial firms.

The president signed a resolution passed by both houses of Congress under the Congressional Review Act that nullified the CFPB rule, which was released in July. (AP) Trump signed a resolution passed by both houses of Congress under the Congressional Review Act that nullified the CFPB rule, which was released in July and aimed to eliminate class action bans included in arbitration clauses on consumer financial contracts.

The U.S. Senate...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS