To amend the Consumer Financial Protection Act of 2010 to repeal the authority of the Bureau of Consumer Financial Protection to restrict arbitration, and for other purposes.

Bill: 114-hr-5569
Sponsor: full_name: Rep. Stutzman, Marlin A. [R-IN-3]
Introduced: 2016-06-22
Policy area: Finance and Financial Sector
Subjects: Alternative dispute resolution, mediation, arbitration

Consumer Financial Protection Bureau

Consumer credit

Financial services and investments
Latest action: action_date: 2016-06-22
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-06-22
action_desc: Introduced in House
text: <p>This bill amends the Consumer Financial Protection Act of 2010 to repeal the authority of the Consumer Financial Protection Bureau to restrict the use of an agreement between a financial product or service provider and a consumer providing for arbitration of any future dispute between the parties.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5569 IN THE HOUSE OF REPRESENTATIVES June 22, 2016 Mr. Stutzman introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Consumer Financial Protection Act of 2010 to repeal the authority of the Bureau of Consumer Financial Protection to restrict arbitration, and for other purposes.

1. Repeal of authority to restrict arbitration (a) In general Section 1028 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5518 ) is hereby repealed. (b) Clerical amendment The table of contents under section 1(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the item relating to section 1028.