And according to Vanita Gupta, president and CEO of The Leadership Conference on Civil and Human Rights, the rule marks “yet another example of how the CFPB is living up to its mandate—to put the concerns and welfare of the consumer above those of corporations that too often seek to take advantage of them.”

The agency, however, has been in the cross-hairs of Republicans since its inception, and its latest action drew swift rebuke from GOP lawmakers who vowed to kill it.

In a statement issued Tuesday, U.S. Sen. Tom Cotton of Arkansas accused the agency of having “gone rogue again, abusing its power in a particularly harmful way.”

Cotton said he started the process of getting rid of the rule through the Congressional Review Act—a “sneaky tactic” that’s been “gleefully employed” by the current House GOP, which allows Congress to get rid of rules put in place during the final six months of the previous administration.

And Cotton’s not alone.

Sen. Mike Crapo (R-Idaho), chair of the Senate Banking Committee and committed foe of the CFPB, also said Tuesday he’d pursue a similar path. He argued: “Driving dispute resolutions into class actions is probably harmful to consumers rather than helpful to consumers.” 

Also slamming the rule was Financial Services Committee Chairman Jeb Hensarling of Texas, who called it “anti-consumer” and urged Congress to “fundamentally refor[m] the CFPB and dismantl[e] the Administrative State.”

Referring to Cotton’s resolution, Robert Weissman, president of Public Citizen, said the Arkansas Republican “is making clear which side he’s on: the banks that want to predate; the payday lenders that want to fleece; the credit card companies that want to defraud; in short, the financial industry that spends hundreds of millions every year on lobbying and campaign contributions.”

“And he’s making very clear who he’s standing against: American consumers who are routinely victimized by these very financial corporations,” Weissman said.

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