Allows banks to insulate themselves from being sued

In July, 2017, the Consumer Financial Protection Bureau (CFPB) issued a rule banning banks from denying consumers the ability to file class action lawsuits against them.

This bill nullifies that rule - meaning that banks can prevent consumers from filing class action lawsuits against them.

It makes use of the Congressional Review Act, which allows Congress to revoke new rules issued by federal agencies.

Click here to read the rule that this bill nullified.