The bureau conducted what many consider the most comprehensive study of arbitration ever done, concluding that the contract terms make it “nearly impossible for people to take companies to court when things go wrong,” as CFPB Director Richard Cordray said. In July 2017, the CFPB finalized a rule banning arbitration agreements that prevent consumers from filing class actions.

But it has done so at a perilous time. Emboldened by the election of President Donald Trump, Republican lawmakers have employed the Congressional Review Act more than a dozen times this year to reverse regulations finalized in the waning days of the Obama administration. Their latest target is the arbitration rule. The House quickly voted to undo the rule. The regulation's fate is now in the hands of the Senate, which could vote as early as this week to follow suit, Politico reported Monday.