Banks’ imperfect options for killing CFPB arbitration rule (subscription)

Opponents of the Consumer Financial Protection Bureau’s arbitration rule are eyeing a trio of options for blocking the regulation before it takes effect, but all three are beset with their own challenges.

The strategy with the most attention is for lawmakers on Capitol Hill to repeal the rule through the Congressional Review Act. But industry representatives are also considering the prospect of the Financial Stability Oversight Council overruling the regulation, or a group such as the Chamber of Commerce suing to throw the rule out.

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