On Tuesday, the Senate voted 51-50 (with Vice President Mike Pence casting the tiebreaking vote) to overturn the Consumer Financial Protection Bureau’s July 2017 rule banning firms from including arbitration clauses blocking class-action lawsuits in consumer financial contracts. The Senate’s action follows a 231-190 vote in the House in July 2017 to overturn the Rule. Under the Congressional Review Act, the resolution will now go to President Trump, whose expected signature will invalidate the Rule and prohibit the CFPB from revisiting it for an extended period of time.
Category: Class Actions
The Supreme Court Hates Your No-Damage Class Action: Spokeo Decision Likely to End Big-Dollar TCPA Class Actions
In its latest landmark decision, Spokeo, Inc. v. Robins, the United States Supreme Court ruled definitively today—and in “once and for all” fashion—that Congress cannot create an “injury in fact” out of thin air by enacting a statute.