U.S. House Appropriations Committee Approves Amendment to Delay CFPB Arbitration Rule

CFPB Arbitration U.S. House

On June 17, the U.S. House Appropriations Committee approved an amendment that would require the CFPB to conduct a peer-reviewed cost-benefit analysis of the use of arbitration agreements prior to issuing a final rule.  The amendment is tied to a fiscal year 2016 financial services spending bill, which would bring the Bureau under the congressional appropriations process. U.S. House Representatives Steve Womack (R-AR) and Tom Graves (R-GA) brought forth the amendment, which was adopted by the Committee on a voice vote.