CFPB Arbitration Rule SBREFA Report

Another important regulatory document related to the CFPB's proposed rule is the Final Report of the Small Business Review Panel on the CFPB’s Potential Rulemaking on Pre-Dispute Arbitration Agreements. In creating the CFPB, Congress subjected its regulations to the requirements of SBREFA, the Small Business Regulatory Enforcement Fairness Act, a piece of legislation originally enacted in 1996 to apply to EPA and OSHA rulemakings. Thus, before proposing its rule, the CFPB was required to convene a panel of representatives of small business entities, which expressed a variety of concerns about the proposed rule that are reflected in this report.

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