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Last week, the Senate voted to rescind the Department of Labor’s “Fiduciary Rule” using the Congressional Review Act. Under the Congressional Review Act, the House and the Senate reserve the right to jointly overrule unnecessary or burdensome acts of regulatory overreach.
In a proposed regulation that would limit the use of arbitration agreements as a means to settle consumer disputes, the Consumer Financial Protection Bureau (CFPB) justifies its advocacy of the class action process through its own study, which, upon further examination, was no more than a data-filled, 728-page Trojan Horse.