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; File Disclosure".
- Bill Number
- H.J.Res. 184
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-05-13: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-05-27T14:34:47Z
AI-Generated Summary
Summary of H.J. Res. 184 (119th Congress, 2d Session)
Purpose
This joint resolution uses the Congressional Review Act (CRA)—a law that lets Congress overturn certain federal agency rules—to block the Bureau of Consumer Financial Protection (CFPB) from withdrawing a prior rule on credit file disclosures under the Fair Credit Reporting Act (FCRA). The FCRA governs how credit reports are handled and gives consumers rights to access their credit files.
Key Provisions
- Disapproves the CFPB's specific rule (published May 12, 2025, at 90 Fed. Reg. 20084) that withdrew the earlier "Fair Credit Reporting; File Disclosure" rule (published January 23, 2024, at 89 Fed. Reg. 4167).
- States that the withdrawal rule "shall have no force or effect," meaning the original disclosure rule remains active.
- Introduced by Rep. Lynch on May 13, 2026, and referred to the House Committee on Financial Services.
Significant Changes to Existing Law
- No direct changes to statutes; instead, it nullifies an agency action (the withdrawal), preserving the 2024 CFPB rule on credit file disclosures.
- Under CRA rules, the CFPB cannot reissue a substantially similar withdrawal rule without new congressional approval.
Potential Impacts
- Government agencies: Limits CFPB's ability to retract its own rules, potentially increasing regulatory burdens on the agency.
- Citizens: Maintains consumer protections for accessing credit files, ensuring disclosures continue as originally required (e.g., free access to credit reports and files).
- No direct international relations impact.
Main Stakeholders Affected
- Consumers: Benefit from continued access to credit file disclosures.
- CFPB: Loses authority to withdraw the rule, affecting its regulatory flexibility.
- Credit reporting agencies (e.g., Equifax, Experian, TransUnion): Must keep complying with the original disclosure requirements.
- Congress: Asserts oversight over agency rulemaking.
Notable Legal, Constitutional, or Political Implications
- Legal: Relies on CRA's fast-track process (simple majority vote, no amendments), with a strict 60-legislative-day window to review rules—highlights Congress's check on executive branch agencies.
- Constitutional: Reinforces separation of powers by allowing legislative veto of agency actions without court involvement.
- Political: Demonstrates bipartisan or targeted congressional intervention in consumer finance regulation; no broader constitutional challenges noted in the text.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Rep. Lynch, Stephen F. [D-MA-8]
Recent Actions
- 2026-05-13: Referred to the House Committee on Financial Services.
- 2026-05-13: Introduced in House
- 2026-05-13: 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 "Fair Credit Reporting; File Disclosure". — issued 2026-05-13 — PDF (2 pages)