(Bloomberg) -- Congressional Republicans have formally started the process to reverse a Consumer Financial Protection Bureau rule that makes it easier for customers to sue lenders, taking a pivotal step in the broader effort to roll back Obama-era bank regulations.
Lawmakers led by Senate Banking Committee Chairman Mike Crapo and House Financial Services Chairman Jeb Hensarling introduced legislation Thursday that would enable them to overturn the CFPB’s forced-arbitration rule with simple majority votes in both chambers.
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