SJRES 173
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 "Consumer Financial Protection Circular 2022-07: Reasonable Investigation of Consumer Reporting Disputes".
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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, Consumer Financial Protection Circular 2022-07, which dealt with how consumer reporting disputes should be investigated. Congress is using the process of congressional disapproval to invalidate this specific rule, effectively preventing it from being implemented.
Key provisions
- Congress disapproves of the Bureau of Consumer Financial Protection’s rule.
- The rule’s withdrawal of Consumer Financial Protection Circular 2022-07 is challenged.
- The rule is declared to have no legal force or effect.
- This action utilizes the congressional disapproval process under Title 5 of the U.S. Code.
Who is affected
- Consumers
- Consumer Reporting Agencies
- The Bureau of Consumer Financial Protection
- Financial Institutions
Notable changes
- This resolution attempts to reverse a recent Bureau of Consumer Financial Protection rule.
- It impacts the process for investigating consumer reporting disputes.
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119th CONGRESS — 2d Session
S. J. RES. 173
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 Consumer Financial Protection Circular 2022–07: Reasonable Investigation of Consumer Reporting Disputes
.
That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Consumer Financial Protection Circular 2022–07: Reasonable Investigation of Consumer Reporting Disputes (87 Fed. Reg. 71507 (November 23, 2022))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.