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 "Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents".
- Bill Number
- H.J.Res. 178
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-05-07: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-05-21T14:46:46Z
AI-Generated Summary
Summary of H.J. Res. 178 (119th Congress)
Purpose
This joint resolution uses the Congressional Review Act (a law allowing Congress to overturn certain federal agency rules) to block a Bureau of Consumer Financial Protection (CFPB) decision to withdraw a 2021 rule. The 2021 rule required financial institutions to be examined for risks to active-duty servicemembers and their dependents, such as predatory lending practices.
Key Provisions
- Disapproval of CFPB rule: Targets the CFPB's withdrawal notice published in the Federal Register on May 12, 2025 (90 Fed. Reg. 20084).
- Nullification: The withdrawal has "no force or effect," effectively reinstating the original 2021 rule (86 Fed. Reg. 32723, June 23, 2021).
- Introduced by Rep. Vicente Gonzalez (D-TX) on May 7, 2026; referred to the House Committee on Financial Services.
Significant Changes to Existing Law
- Reverses the CFPB's administrative action to eliminate the 2021 examination rule.
- No new laws created; instead, it restores the status quo from the prior CFPB rule via congressional override.
Potential Impacts
- Government agencies: Limits CFPB's ability to scale back consumer protections for military families, requiring continued enforcement and examinations by financial regulators.
- Citizens: Active-duty servicemembers and their covered dependents (e.g., spouses, children) gain restored safeguards against financial risks like high-interest loans.
- Financial sector: Banks and lenders face ongoing mandatory exams for compliance with servicemember protections.
- No direct impact on international relations.
Main Stakeholders
- Active-duty servicemembers and dependents: Primary beneficiaries of reinstated protections.
- CFPB and financial regulators: Must resume examinations and enforcement.
- Financial institutions: Subject to increased oversight and potential penalties.
- Congress: Asserts oversight over executive branch rulemaking.
Notable Legal, Constitutional, or Political Implications
- Legal: Invokes the Congressional Review Act (5 U.S.C. Chapter 8), a fast-track process for disapproving rules submitted to Congress; if passed and signed/enacted, it's immune from judicial review.
- Constitutional: Reinforces Congress's oversight of executive agencies under the Administrative Procedure Act framework.
- Political: Demonstrates bipartisan potential in using CRA for consumer/military protections; could set precedent for future reversals of agency withdrawals.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Rep. Gonzalez, Vicente [D-TX-34]
Recent Actions
- 2026-05-07: Referred to the House Committee on Financial Services.
- 2026-05-07: Introduced in House
- 2026-05-07: Introduced in House
Bill Versions
- 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 "Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents". — issued 2026-05-07 — PDF (2 pages)