With the ink barely dry on the Consumer Financial Protection Bureau's final arbitration rule Monday, defenders and critics of the rule were already girding for a congressional fight over its ultimate fate.

The rule, which is meant to allow consumers to more easily form or join class action lawsuits, is widely unpopular among banks and congressional Republicans, who have vowed to repeal it through the Congressional Review Act. The law allows lawmakers to review and overrule regulations within 60 legislative days by a simple majority.

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