Referred to the House Committee on Financial Services.
This joint resolution, under the Congressional Review Act (chapter 8 of title 5), disapproves the Bureau of Consumer Financial Protection's rule that withdrew the 2022 CFPB rule titled “Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports.” If enacted, the withdrawal (90 Fed.
Reg. 20084 (May 12, 2025)) would be nullified and have no force or effect, leaving the 2022 rule (87 Fed.
Reg. 41243 (July 12, 2022)) in place.
Narrow CRA approach improves prospects versus broad reforms, but partisan alignment, Senate procedure, and executive signature/veto concerns lower chances.
Relative to its intended legislative type, this bill is a concise CRA-style joint resolution that clearly identifies and effects congressional disapproval of a single specified Bureau of Consumer Financial Protection rule. It states the legal outcome (the rule shall have no force or effect) with the specificity expected for this instrument.
Progressives emphasize consumer privacy and protections.
Progressives emphasize consumer privacy and protections.
Likely supportive because the resolution blocks a CFPB action that removed a consumer-protection rule.
They would view keeping the 2022 rule as protecting consumer privacy and limiting unjustified access to consumer reports.
Cautiously favorable if the 2022 rule's benefits justify compliance costs.
They want clearer cost-benefit analysis and prefer technical fixes over partisan use of CRA.
Likely opposed because the resolution blocks an agency rollback of a regulation, preserving what they may view as an overbroad or burdensome CFPB rule.
They prefer agency flexibility and less federal regulatory constraint on businesses.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow CRA approach improves prospects versus broad reforms, but partisan alignment, Senate procedure, and executive signature/veto concerns lower chances.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize consumer privacy and protections.
Narrow CRA approach improves prospects versus broad reforms, but partisan alignment, Senate procedure, and executive signature/veto concern…
Relative to its intended legislative type, this bill is a concise CRA-style joint resolution that clearly identifies and effects congressional disapproval of a single specified Bureau of Consumer Financial Protection ru…
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