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; Name-Only Matching Procedures"

Progress

Timeline

• Mar 19Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

**What this does:** This joint resolution would overturn a recent rule change by the Consumer Financial Protection Bureau (CFPB). The CFPB withdrew an older rule about "name-only matching procedures" in credit reporting, and Congress is trying to reverse that withdrawal. **Who it affects:** - Consumers applying for credit, loans, or other financial services - Credit reporting agencies that collect and maintain credit information - Banks, lenders, and other financial institutions that use credit reports **What would change:** If passed, this would restore the previously withdrawn rule about how credit reporting agencies match consumer names when creating credit reports. This relates to how accurately credit reports are linked to the correct individuals, which can affect whether people get approved for loans and at what interest rates. **Current status:** The resolution is still in committee and has not been voted on by the full Congress.

How This Affects You