Jeb Hensarling press statement on CFPB arbitration rule

House Financial Services Committee Chairman Jeb Hensarling of Texas tells reporters that the Dodd Frank Wall Street Reform Act is seven years old makes Americans less free and less process, including the creation creation of the Orwellian named Consumer Financial Protection Bureau, the most powerful unaccountable agency in the history of the Republic, its organizational structure found unconstitutional by a court, found contravening law with actions over car dealers, lenders and retaliation against Bureau employees. Hensarling says that under Rob Cordray, the Bureau has abused its powers, that seeking political office he will rush out a midnight rule to enrich politically powerful class-action attorneys at the expense of consumers by unilaterally taking away a right to fair alternative dispute resolution. Hensarling calls it a legally dubious rule, though arbitration is faster and more efficient.