HJRES 177
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".
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Bill overview
This joint resolution seeks to overturn a rule issued by the Bureau of Consumer Financial Protection. The rule in question concerned the withdrawal of a previous rule regarding ‘Fair Credit Reporting; Name-Only Matching Procedures.’ Congress is using the process of congressional disapproval, outlined in U.S. Code, to invalidate this specific Bureau rule. This action aims to reinstate the previously existing rule.
Key provisions
- Congress disapproves the Bureau of Consumer Financial Protection’s rule.
- The rule regarding ‘Fair Credit Reporting; Name-Only Matching Procedures’ is invalidated.
- The withdrawn rule will no longer have any legal effect.
- This action utilizes the congressional disapproval process under Title 5 of the U.S. Code.
Who is affected
- Consumers
- Credit Reporting Agencies
- The Bureau of Consumer Financial Protection
- Financial Institutions
Notable changes
- Reinstatement of the previously withdrawn rule on ‘Fair Credit Reporting; Name-Only Matching Procedures’.
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119th CONGRESS — 2d Session
H. J. RES. 177
IN THE HOUSE OF REPRESENTATIVES
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
.
That Congress disapproves 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, 86 Fed. Reg. 62468 (November 10, 2021)
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.