US Federal House Bill HJR165

US Federal 2025-2026 Regular Session

• Introduced: 4/30/26
• Refer: 4/30/26

Caption

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; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".

Impact

The disapproval of the Bureau's rule could have significant implications for consumer rights and financial accountability. If HJR165 passes, it would reaffirm the importance of stringent standards regarding how consumer reporting agencies can operate. This rebuke from Congress signals a commitment to maintaining regulatory oversight that protects consumers from potential abuses that could arise if financial institutions can access consumer credit information with fewer constraints. The impact extends to improving transparency and safeguarding individual rights in the financial sector.

Summary

HJR165 is a joint resolution aimed at disapproving a rule put forth by the Bureau of Consumer Financial Protection, which pertains to the withdrawal of regulations around fair credit reporting. Specifically, the resolution states that Congress disapproves the bureau's decision to withdraw a previously established rule that outlined the permissible purposes for furnishing, using, and obtaining consumer reports. The text emphasizes the congressional authority to reject such regulations as articulated under chapter 8 of title 5 of the United States Code. By passing this resolution, Congress seeks to reinstate prior regulations that were deemed critical for consumer protection in financial transactions.

Contention

Notable points of contention surrounding HJR165 may include debates over the balance between regulatory oversight and the operational flexibility of financial institutions. Proponents of the resolution argue that restoring the previous rule is essential for protecting consumer interests, while opponents may argue that such regulations create unnecessary burdens on businesses. The discussion likely revolves around finding a middle ground that ensures fair practices without stifling the financial industry's capacity to innovate and respond to market demands.