This joint resolution would use the congressional disapproval process in chapter 8 of Title 5, United States Code, to reject a rule the Bureau of Consumer Financial Protection (CFPB) submitted. The CFPB rule at issue would withdraw an earlier 2022 rule titled "Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements." The resolution states that the CFPB's submitted rule "shall have no force or effect."
If enacted, the resolution would nullify the CFPB's submitted rule that would have withdrawn the 2022 Regulation B action. No publicly available information on specific effects for individuals, creditors, or businesses beyond the text of the resolution.
No publicly available information on costs or budget effects in the provided text.
Sponsor: Rep. Cleo Fields. No publicly available information in the provided material about proponents' stated reasons or supporting arguments.
No publicly available information in the provided material about opponents' stated reasons or objections.