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SJRES140119th CongressWALLET

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 "Fair Credit Reporting; Name-Only Matching Procedures".

Sponsored By: Senator Warnock, Raphael G. [D-GA]

In Committee

Summary

Preserves name-only matching procedures in fair credit reporting. This resolution nullifies the Consumer Financial Protection Bureau's withdrawal of the "Fair Credit Reporting: Name-Only Matching Procedures" rule and keeps the prior matching rule in place.

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Bill Overview

Analyzed Economic Effects

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

Consumers keep name-only credit rules

If enacted, this resolution would use the Congressional Review Act to disapprove the CFPB's rule that would withdraw the "Fair Credit Reporting; Name-Only Matching Procedures" rule. That would stop the CFPB from removing the name-only matching rule and keep the existing matching procedures for credit reports in place. Consumers who check credit reports or apply for loans, rentals, or services would keep the current protections. The change would take effect only if Congress passes the resolution and it becomes law.

Sponsors & CoSponsors

Sponsor

Warnock, Raphael G. [D-GA]

GA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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