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 "Bulletin 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts"

Progress

Timeline

• Mar 26Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

**What this does:** This joint resolution would overturn a Consumer Financial Protection Bureau (CFPB) rule about student loan debt collection after bankruptcy. The CFPB had withdrawn guidance that protected consumers from certain unfair billing and collection practices on student loans after their other debts were discharged in bankruptcy. This resolution would disapprove of that withdrawal. **Who it affects:** People who have filed for bankruptcy but still owe student loan debt, as most student loans cannot be discharged in bankruptcy proceedings. **What would change:** If passed, this would essentially restore stronger protections for bankruptcy filers against unfair collection practices on their remaining student loan debts. It would prevent the CFPB from withdrawing the consumer protections that were outlined in their 2023 guidance. **Current status:** The resolution is still in committee and has not been voted on by Congress.

How This Affects You