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 Protections for Home Sales Financed Under Contracts for Deed".
Sponsored By: Representative Cleaver, Emanuel [D-MO-5]
Introduced
Summary
Preserves Truth in Lending protections under Regulation Z for home sales financed by contracts for deed. This joint resolution would nullify the Bureau of Consumer Financial Protection rule that would withdraw those protections.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keep contract-for-deed protections in place
If enacted, this joint resolution would disapprove the Bureau of Consumer Financial Protection rule that withdrew the Regulation Z rule on contract-for-deed home sales. The withdrawal rule is 90 Fed. Reg. 20084 (May 12, 2025). The earlier Regulation Z protections are at 89 Fed. Reg. 68086 (Aug. 23, 2024). The resolution would make the withdrawal rule have no force or effect and would preserve those consumer protections upon enactment. If you buy a home through a contract for deed, you would remain covered by the Regulation Z disclosures and protections, and sellers and lenders would remain subject to them.
Sponsors & CoSponsors
Sponsor
Cleaver, Emanuel [D-MO-5]
MO • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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