In the News Today – August 1, 2017

Acting Comptroller Forgoes CFPB Arbitration Rule Challenge Due to Time Constraints: Acting comptroller of the Currency Keith Noreika announced that he will not seek to eliminate the Consumer Financial Protection Bureau’s (CFPB) arbitration rule due to timing constraints, leaving a potential vote in Congress the biggest threat to the regulation. “I hope Congress will act on this opportunity to preserve effective alternatives for consumers to resolve their disputes without lengthy and costly litigation and to reduce the ‘piling on’ of legal and regulatory burden,” said Noreika. (Law360)