The U.S. House of Representatives voted recently to overturn the CFPB’s controversial arbitration rule, which is due to kick in Sept. 18. The final rule prohibits “covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing or participating in a class action concerning the covered consumer financial product or service.” It also requires covered providers that are involved in an arbitration proceeding per a pre-dispute arbitration agreement to submit specified arbitral records as well as specified court records to the bureau. House Joint Resolution 111 utilized the authority of the Congressional Review Act to undo the rule ...