SJRES 151
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 "Bulletin 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts".
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Bill overview
This joint resolution seeks to overturn a rule issued by the Bureau of Consumer Financial Protection. The rule concerned practices related to billing and collection of student loan debts after bankruptcy discharges. Congress is using the process of congressional disapproval to invalidate this specific rule, effectively rendering it unenforceable.
Key provisions
- Congress disapproves of the Bureau of Consumer Financial Protection’s rule.
- The rule regarding billing and collection practices after student loan bankruptcy discharges is nullified.
- The rule’s withdrawal is subject to congressional disapproval.
- The rule will have no legal effect.
Who is affected
- Student loan borrowers
- The Bureau of Consumer Financial Protection
- Individuals affected by billing and collection practices related to student loans
Notable changes
- This action directly challenges a recent Bureau of Consumer Financial Protection rule.
- It represents a congressional effort to influence consumer financial regulations.
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119th CONGRESS — 2d Session
S. J. RES. 151
IN THE SENATE OF THE UNITED STATES
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 Bulletin 2023–01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts
.
That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Bulletin 2023–01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts (88 Fed. Reg. 17366 (March 23, 2023))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.