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; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".
Sponsored By: Representative Pettersen, Brittany [D-CO-7]
Introduced
Summary
Would preserve the CFPB's 2022 rule on permissible purposes for furnishing, using, and obtaining consumer reports. This joint resolution would disapprove the Bureau of Consumer Financial Protection's action to withdraw that 2022 rule, preventing the withdrawal and keeping the 2022 regulatory framework in effect.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keep 2022 consumer credit rules
If enacted, this joint resolution would disapprove the CFPB rule filed at 90 Fed. Reg. 20084 (May 12, 2025). The resolution would declare that the withdrawal rule has no force or effect. That would keep the 2022 permissible-purposes rule (87 Fed. Reg. 41243 (July 12, 2022)) in place. Consumers, credit reporting agencies, and businesses that use consumer reports would be mainly affected. The change would take effect upon enactment and would not change funding or add new regulatory requirements beyond voiding the withdrawal.
Sponsors & CoSponsors
Sponsor
Pettersen, Brittany [D-CO-7]
CO • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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