SJRES 174
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 2022-04: Mitigating Harm From Repossession of Automobiles".
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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 the withdrawal of a previous rule (Bulletin 2022-04) that aimed to lessen potential harm during automobile repossessions. Congress is using the process of congressional disapproval to invalidate this specific rule and prevent it from being implemented.
Key provisions
- Congress disapproves of the Bureau of Consumer Financial Protection’s rule.
- The rule regarding Bulletin 2022-04 is specifically targeted.
- The rule’s withdrawal is challenged.
- The disapproved rule will not be enforced.
- This action utilizes the congressional disapproval process.
Who is affected
- Consumers
- Automobile borrowers
- The Bureau of Consumer Financial Protection
- Financial institutions involved in vehicle repossession
Notable changes
- This resolution directly challenges a recent Bureau of Consumer Financial Protection rule.
- It aims to reinstate the previous rule (Bulletin 2022-04) regarding repossessions.
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119th CONGRESS — 2d Session
S. J. RES. 174
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 2022–04: Mitigating Harm From Repossession of Automobiles
.
That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Bulletin 2022–04: Mitigating Harm From Repossession of Automobiles (87 Fed. Reg. 11951 (March 3, 2022))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.