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 "Truth in Lending (Regulation Z); Consumer Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work"

Progress

Timeline

• Apr 27Placed on Senate Legislative Calendar under General Orders. Calendar No. 400.
• Mar 26Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

**What this does:** This is a joint resolution that would overturn a recent rule from the Consumer Financial Protection Bureau (CFPB). The CFPB rule withdrew previous regulations about "earned wage access" products - services that let workers get paid early for hours they've already worked. **Who it affects:** Workers who use apps or services to access their earned wages before payday, and the companies that provide these services. **What would change:** If passed, this resolution would restore the previous CFPB regulations that treated these early wage access products more like traditional loans under Truth in Lending rules. This means these services might have to provide more disclosures about costs and terms to consumers. **Current status:** The resolution is still in committee and has not been voted on by Congress. The resolution uses Congress's power to review and overturn federal agency rules within a specific timeframe.

How This Affects You