Here. Excerpt on the CFPB's proposed arbitration reg:
[Ballard Spahr's] Alan S. Kaplinsky told Bloomberg BNA that “it would be bordering on reckless” for CFPB Director Richard Cordray to finalize the rule because of the risk it will be overturned under the [Congressional Review Act].* * *
Congressional Republicans will be in lock step against it, he predicted. “The forces behind an override will be very very strong.”
But consumer advocate [Public Justic's] F. Paul Bland * * * called fears about CRA reversal “a recipe for paralysis.” “You miss all the shots you don’t take,” he said.
He pointed to the Wells Fargo fake account scandal, which snowballed to affect two million customers because mandatory arbitration shut down two early suits. Negative attention on Wells Fargo makes reversing the CFPB a “very hard vote for a lot of Republicans” in Congress, he told Bloomberg BNA.
* * *
[Rutgers Professor David] Noll suggested that Cordray is taking Congress’s temperature and might be waiting to release the rule until congressional support for the administration splinters further
