ETA Signs Joint Trade Letter in Support of House Amendment to Require the CFPB to Reexamine Pending Arbitration Regulations
December 1, 2015
TO THE MEMBERS OF THE SENATE AND HOUSE COMMITTEES ON APPROPRIATIONS:
The undersigned associations—representing businesses of all sizes and sectors of the economy—strongly support maintaining the Womack-Graves amendment to the Fiscal Year 2016 Financial Services and General Government Appropriations bill (section 632 of H.R. 2995 and its associated report language) in any final FY 2016 Financial Services Appropriations bill conference agreement. This amendment would require the Consumer Financial Protection Bureau (CFPB) to conduct a fair, comprehensive study before adopting a rule that would restrict arbitration and open the door widely to abusive class actions that benefit lawyers and harm consumers.