President Donald Trump signed a Senate-approved resolution nullifying the Consumer Financial Protection Bureau’s (CFPB) final rule banning mandatory arbitration agreements in financial contracts on Nov. 1.
The announcement comes despite a letter CFPB Director Richard Cordray wrote to Trump following the Senate vote, in a last-ditch effort to convince the president to uphold the arbitration rule.
Find out more about the circumstances leading up to Trump’s decision to instead uphold the Senate’s recent vote in favor of the resolution of disapproval, nullifying the arbitration rule.