A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Fair Credit Reporting; File Disclosure"

Progress

Timeline

• Apr 27Placed on Senate Legislative Calendar under General Orders. Calendar No. 383.
• Mar 17Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

**What it does:** This joint resolution would overturn a rule by the Consumer Financial Protection Bureau (CFPB) that withdrew previous regulations about "Fair Credit Reporting; File Disclosure." **Who it affects:** Anyone who uses credit reports or has their credit information collected, including consumers applying for loans, credit cards, or other financial services, as well as credit reporting agencies and financial institutions. **What would change:** If passed, this resolution would prevent the CFPB from withdrawing the original credit reporting disclosure rule. This means the previous requirements for how credit information must be disclosed to consumers would remain in effect, rather than being eliminated. **Background:** This uses Congress's power to review and reject federal agency rules within a certain timeframe after they're issued. The specific impact depends on what the original withdrawn rule required regarding credit file disclosures to consumers.

How This Affects You