Trump Kills Cordray’s Arbitration Rule; Would He Do the Same for Debt Collectors?

In spite of Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's best efforts, President Trump has officially killed his newly minted Arbitration Rule. 

On July 11, 2017 insideARM reported that the CFPB had issued a final rule banning mandatory arbitration clauses in financial services agreements. The Bureau's announcement at the time said, 

“Arbitration clauses in contracts for products like bank accounts and credit cards make it nearly impossible for people to take companies to court when things go wrong. These clauses allow companies to avoid accountability by blocking group lawsuits and forcing people to go it alone or give up. Our new rule will stop companies from sidestepping the courts and ensure that people who are harmed together can take action together."