The Center for Individual Freedom (CFIF) today joined a coalition made up of more than two dozen free…
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CFIF Joins Coalition Urging Congressional Reversal of CFPB's Anti-Arbitration Rule

The Center for Individual Freedom (CFIF) today joined a coalition made up of more than two dozen free-market organizations on a letter urging Congress to use the Congressional Review Act to reverse a new rule by the Consumer Financial Protection Bureau (CFPB) that prevents financial services companies from using arbitration to resolve customer disputes.

"The CFPB's arbitration rule has been described as 'Christmas in July' for America’s trial lawyers – and rightly so," the coalition stresses in the letter.  "According to the CFPB’s own finding, the rule will cost consumers billions of dollars and unleash over 6,000 class action lawsuits every five years. This rule is an obstacle to the efforts to right America’s fiscal ship and create jobs and prosperity for the American people."…[more]

July 25, 2017 • 10:04 am

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