About the resolution
H.J.Res. 111 would disapprove and nullify the rule issued by the Bureau of Consumer Protection (CFPB) on July 10, 2017, regarding final arbitration pertaining to consumer finance contracts.
The Congressional Review Act, enacted in 1996, establishes special congressional procedures for disapproving a broad range of regulatory actions issued by federal agencies. If Congress passes a joint resolution disapproving the rule, and the resolution becomes law, the rule cannot take effect or continue in effect. The agency also may not reissue that rule or any substantially similar rule, except under authority of a subsequently enacted law.
The CFPB’s final rule prohibits consumer finance companies from relying on class action waivers to block class action lawsuits, prohibits the inclusion of class act lawsuit waiver provisions in contracts pertaining to a broad swath …
Sponsor and status
115th Congress (2017–2019)
Enacted — Signed by the President on Nov 1, 2017
This resolution was enacted after being signed by the President on November 1, 2017.
34 Cosponsors (34 Republicans)
Position statements
What legislators are saying
“Tribune-Democrat: Anti-arbitration rule was threat to consumers”
—
Rep. Keith Rothfus [R-PA12, 2013-2018]
(Sponsor)
on Nov 7, 2017
“McHenry Votes to Undo CFPB Arbitration Rule”
—
Rep. Patrick McHenry [R-NC10]
(Co-sponsor)
on Jul 25, 2017
“providing for congressional disapproval of the rule submitted by bureau of consumer financial protection relating to arbitration agreements”
—
Rep. Robert “Bobby” Scott [D-VA3]
on Jul 25, 2017
History
H.J.Res. 111 (115th) was a joint resolution in the United States Congress.
A joint resolution is often used in the same manner as a bill. If passed by both the House and Senate in identical form and signed by the President, it becomes a law. Joint resolutions are also used to propose amendments to the Constitution.
Resolutions numbers restart every two years. That means there are other resolutions with the number H.J.Res. 111. This is the one from the 115th Congress.
This joint resolution was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
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“H.J.Res. 111 — 115th Congress: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the ….” www.GovTrack.us. 2017. April 26, 2024 <https://www.govtrack.us/congress/bills/115/hjres111>
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