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...
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