Breaking: Senate Votes to Repeal CFPB Arbitration Rule

10/25/17 – The New York Times reports that the Senate has voted 50-50, with Vice President Mike Pence as the tie breaker, to reject the Consumer Financial Protection Bureau’s Arbitration Rule that was issued last summer.

According to the New York Times, the Senate voted on Tuesday to strike down the rule that would have prevented financial firms offering services to consumers from using pre-dispute arbitration agreements to block consumers from starting or joining class action lawsuits. The House voted to repeal the rule earlier this year, in July.

Under the Congressional Review Act, Congress has 60 legislative days after a rule is issued to pass a resolution that disapproves of the rule. If both chambers pass the resolution and the Presidents sign it, the rule is nullified.

The resolution now goes to President Donald Trump for his signature, who is expected to sign it.

M&L will provide more information and analysis in the days to come.

New York Times.

Appellate Courts Split on the Definition of an Autodialer

What exactly is an autodialer? This year, several appellate courts have tried to answer the question, but the most recent decision by the Ninth Circuit has left TCPA litigators and the telemarketing industry more confused than ever before.

CFPB Releases Spring 2017 Rulemaking Agenda

The CFPB announced the publication its Spring 2017 rulemaking agenda.

Hot Topic: CFPB Cannot Regulate Optional Insurance Sales

Dodd-Frank limits the CFPB's jurisdiction over insurance. Though the CFPB can exercise some authority over insurance activities, their reach should not extend to optional sales by banks.