Referred to the House Committee on Financial Services.
This resolution uses the Congressional Review Act to overturn an agency action. It would nullify a specific submission from the agency that sought to withdraw an earlier consumer-reporting disclosure rule. If enacted, the agency action being disapproved would have no force, and the agency would be prevented from issuing a substantially similar rule unless Congress later passed a law allowing it.
The rule submitted by the Consumer Financial Protection Bureau that would withdraw the "Fair Credit Reporting; File Disclosure" rule (90 Fed. Reg. 20084 (May 12, 2025)).
Consumer Financial Protection Bureau (CFPB)
Under the Congressional Review Act this disapproval must be passed by both chambers and presented to the President for signature or veto. In the Senate, CRA disapproval measures are not subject to a filibuster and can pass by a simple majority, and they must be filed within a limited window after the agency submitted the rule.
This joint resolution, under the Congressional Review Act, disapproves a Bureau of Consumer Financial Protection (CFPB) rule that withdrew the CFPB’s 2024 "Fair Credit Reporting; File Disclosure" rule.
If enacted, the resolution would nullify the CFPB’s withdrawal (90 Fed.
Reg. 20084, May 12, 2025) and leave the January 23, 2024 File Disclosure rule (89 Fed.
Narrow, procedurally straightforward instrument increases chances, but outcome hinges on chamber support and executive approval; regulatory opponents and stakeholders create headwinds.
Relative to its intended legislative type, this bill is a focused Congressional Review Act disapproval resolution that is precise about the target rule and its immediate legal effect but contains minimal supplemental detail (fiscal note, edge-case handling, oversight) beyond what is customary for such a resolution.
Progressives emphasize consumer access and transparency benefits
Progressives emphasize consumer access and transparency benefits
Likely supportive because the resolution preserves a CFPB consumer‑protection rule.
They would see this as maintaining consumer access and transparency in credit reporting.
Some impacts (exact consumer benefits) are uncertain without the full rule text.
Mixed but cautiously favorable: values consumer protections but wants clear cost‑benefit and legal grounding.
Would look for evidence the 2024 rule’s benefits exceed compliance and privacy costs.
Views hinge on agency analysis and implementation details.
Likely opposed: views the resolution as blocking a deregulatory action and preserving an intrusive or costly CFPB rule.
Prefers the agency’s withdrawal to stand to reduce regulatory burden and litigation risk.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, procedurally straightforward instrument increases chances, but outcome hinges on chamber support and executive approval; regulatory opponents and stakeholders create headwinds.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize consumer access and transparency benefits
Narrow, procedurally straightforward instrument increases chances, but outcome hinges on chamber support and executive approval; regulatory…
Relative to its intended legislative type, this bill is a focused Congressional Review Act disapproval resolution that is precise about the target rule and its immediate legal effect but contains minimal supplemental de…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.