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HJRES185119th 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 "Consumer Financial Protection Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions".

Sponsored By: Representative Vargas, Juan [D-CA-52]

Introduced

Summary

Voids the CFPB rule that withdrew Consumer Financial Protection Circular 2024-03. The resolution would disapprove that CFPB withdrawal rule so the withdrawal would have no force or effect.

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Bill Overview

Analyzed Economic Effects

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

Keep consumer finance contract protections

If enacted, this resolution would disapprove the CFPB rule that sought to withdraw Consumer Financial Protection Circular 2024-03. Circular 2024-03 is titled "Unlawful and Unenforceable Contract Terms and Conditions" (89 Fed. Reg. 51955, June 21, 2024). The CFPB notice to withdraw that Circular was published at 90 Fed. Reg. 20084 (May 12, 2025). If disapproved, the withdrawal rule would have no force or effect and Circular 2024-03 would remain in place, preserving CFPB guidance that some contract terms are unlawful or unenforceable. Consumers and firms that make or enforce consumer financial contracts would be the main groups affected.

Sponsors & CoSponsors

Sponsor

Vargas, Juan [D-CA-52]

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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