American Banker: GOP efforts to repeal CFPB arbitration rule off to rocky start

by Jeff Sovern

Here. The article points out that one Republican member of the Senate Banking Committee, John Kennedy of Louisiana, did not agree to cosponsor the Senate CRA resolution to rescind the CFPB rule (he was said to be reviewing the resolution); that Senator McCain's unfortunate health issues may prevent him from voting on the resolution; and that the more moderate Senate Republicans, like Senators Collins and Murkowski, have yet to be heard from on the resolution. Senator Collins voted for the Dodd-Frank Act, which created the CFPB and authorized it to regulate arbitration.

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