by Jeff Sovern
The Wall Street Journal, in a story headlined Regulator Fight Flares Anew Over Arbitration Rule As GOP Gears Up To Vote, reports on the CFPB response to the Norieka op-ed I wrote about earlier:
The CFPB countered Mr. Noreika’s attack by publishing a new report on the rule’s effect on consumers, arguing there is no statistical evidence it would have a significant impact on credit costs. The bureau also said some of the data it used when designing the rule is confidential information not suitable for publishing.
The CFPB said the OCC’s analysis is “based on flawed statistics and is contradicted by publicly available historical data that the OCC did not consider.”
As best I can tell, the CFPB report is not yet up on its web site.