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The House is slated to vote today on a resolution offered under the Congressional Review Act to disapprove of a final CFPB arbitration rule that is currently set to take effect Sept. 18.

The House holds votes this afternoon, with the above-noted resolution allowed to get up to one hour of debate but no amendments before a vote is taken. A similar resolution has been introduced in the Senate. The Congressional Review Act allows allowing legislators to overrule new federal regulations with a joint resolution within 60 legislative days after regulators have submitted the rule to Congress.

Released in final form earlier this month, the CFPB's arbitration rule prohibits the use of arbitration agreements for the purpose of limiting access to class action litigation. Compliance will be required for pre-dispute arbitration agreements entered into on or after March 19, 2018.