Trump repeals consumer arbitration rule, wins banker praise

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Trump repeals consumer arbitration rule, wins banker praise

Trump repeals consumer arbitration rule, wins banker praise

THE HILL-

President Trump on Wednesday signed a repeal of the Consumer Financial Protection Bureau’s rule on forced arbitration, winning praise from banking and business groups.

Trump approved the resolution to repeal the CFPB rule, meant to prevent banks and credit card companies from blocking customers from joining class-action lawsuits against them, in a private Oval Office signing.

The House passed a resolution to repeal the rule in July, which passed the Senate two weeks ago.

[THE HILL]

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