by Jeff Sovern
CFPB Monitor is reporting:
[T]he House Appropriations Committee has approved an amendment to the FY 2016 Financial Services Appropriations bill that would impose new requirements on the CFPB before it can issue a rule governing arbitration agreements. The amendment, which was introduced by Republican Representatives Steve Womack and Tom Graves, reportedly would require the CFPB to produce a peer-reviewed study on arbitration and determine that the benefits of a new rule outweigh the costs before issuing an arbitration regulation.
They attribute the information to a Politico report. The House Appropriations Committee web site indicates that the amendment was approved on a voice vote and that the Committee has approved the bill, as amended.
