Biz Groups Drop Challenge To Dead CFPB Arbitration Rule

Law360, New York (November 2, 2017, 3:24 PM EDT) -- Just a day after President Donald Trump nullified a Consumer Financial Protection Bureau arbitration rule that would have allowed customers to file class action lawsuits against financial firms, business groups that sued to overturn the rule dropped their litigation over the regulation.

The U.S. Chamber of Commerce, the American Bankers Association and the Financial Services Roundtable said in a motion filed in federal district court in Dallas that the litigation was no longer necessary now that Trump signed a resolution passed under the Congressional Review Act...
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Case Information

Case Title

Chamber of Commerce of the United States of America et al v. Consumer Financial Protection Bureau et al


Case Number

3:17-cv-02670

Court

Texas Northern

Nature of Suit

Other Statutes: Administrative Procedure Act/Review or Appeal of Agency Decision

Judge

Sidney A Fitzwater

Date Filed

September 29, 2017

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