Senate Joint Resolution 47
115th Congress(2017-2018)
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by Bureau of Consumer Financial Protection relating to "Arbitration Agreements".
Introduced
Introduced in Senate on Jul 20, 2017
Origin Chamber
Senate
Type
Joint Resolution
Joint Resolution
A form of legislative measure used to propose changes in law, or to propose an amendment to the U.S. Constitution. Depending on the chamber of origin, they begin with a designation of either H.J.Res. or S.J.Res. Concurrent resolutions and simple resolutions are other types of resolutions. Bill is another form of legislative measure used to propose law.
Bill Number
47
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Mike Crapo
grade
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No Senate votes have been held for this bill.
Summary
This joint resolution nullifies a rule submitted by the Consumer Financial Protection Bureau (CFPB) regarding arbitration agreements.
(The rule regulates the use of arbitration agreements in contracts for specific consumer financial products and services. It prohibits the use of a predispute arbitration agreement to prevent a consumer from filing or participating in certain class action suits. The rule also requires consumer financial product and service providers to furnish the CFPB with particular information regarding arbitrations.)
July 20, 2017
07/20/2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
07/20/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:37:00 PM