House and Senate Republicans announced yesterday that they are sponsoring Congressional Review Act resolutions to override the CFPB’s final arbitration rule, which was published in the Federal Register. 

In the House, a press release published on the House Financial Services Committee’s website announced that a joint resolution (H.J. Res. 111), sponsored by Committee member Keith Rothfus and co-sponsored by all other Republican Committee members, has been introduced to disapprove the arbitration rule.

In the Senate, a press release on the Senate Banking Committee’s website announced that Committee Mike Crapo and Republican colleagues “will file” a CRA resolution to disapprove the arbitration rule.  The resolution has 23 co-sponsors in addition to Mr. Crapo, several of whom are not Banking Committee members.  Only one Republican Banking Committee member, Louisiana Senator John Kennedy, is not listed as a co-sponsor.

Neither press release includes or links to the resolution text.