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119-hjres-170119th CongressWALLET

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 "The Fair Credit Reporting Act's Limited Preemption of State Laws".

Sponsored By: Representative Waters, Maxine [D-CA-43]

Introduced

Summary

This bill would nullify the Consumer Financial Protection Bureau's rule that withdrew the 2022 Fair Credit Reporting Act limited‑preemption rule, declaring that withdrawal to have no force or effect.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Keep national preemption for credit reports

If enacted, this resolution would disapprove the CFPB rule withdrawing the 2022 preemption rule (87 Fed. Reg. 41042). The withdrawal was published at 90 Fed. Reg. 20084 (May 12, 2025). The resolution would make that withdrawal have no force or effect, so the CFPB's July 11, 2022 preemption rule would remain in place. This would change whether state consumer protections apply to credit reports. It would help firms that want one national rule and limit some state-level protections for consumers.

Sponsors & CoSponsors

Sponsor

Waters, Maxine [D-CA-43]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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