Conservative Commentator Argues Against CRA Challenge to CFPB Arbitration Rule

Dean Clancy in US News has written The GOP's Foolish Decision. Excerpt:

The U.S. Chamber of Commerce urged Congress to kill not only [the arbitration] regulation, but every CFPB rule, on grounds the agency is unconstitutional and therefore all of its actions are invalid.

The GOP would be terribly foolish to go down this road, for three reasons. Forced arbitration is: 1) unconscionable, 2) unconstitutional and 3) a big political loser.

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Is the CFPB itself unconstitutional? Yes, in my opinion. But so is forced arbitration. And Congress has a duty to protect our right to a jury trial.

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Those who vote to overturn the CFPB regulation will be placing themselves on the side of accused sexual harassers, corporate wrongdoers and unscrupulous payday lenders who exploit our troops.

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