Republican efforts to repeal the regulation via legislation is one of several fronts in an attack on the CFPB initiative.
Other financial regulators could consider challenging the rule, and business groups have indicated a legal challenge is on the way as well.
"The agency has shirked its obligation to properly study the arbitration issue, as it was mandated by Congress," said Lisa Rickard, president of the Chamber of Commerce's Institute for Legal Reform. "The courts will have their say."
This article was provided by Reuters.