A 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 "Bulletin 2015-07 re: in-person collection of consumer debt".
- Bill Number
- S.J.Res. 162
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-04-13: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Last Updated
- 2026-05-15T18:58:05Z
AI-Generated Summary
Purpose
This joint resolution (S.J. Res. 162) uses the Congressional Review Act (a law allowing Congress to overturn certain federal agency rules) to block a decision by the Bureau of Consumer Financial Protection (CFPB, a government agency that protects consumers in financial matters) to withdraw its 2015 guidance on debt collection practices.
Key Provisions
- Disapproves the CFPB rule published on May 12, 2025 (90 Fed. Reg. 20084), which aimed to withdraw "Bulletin 2015-07" (issued December 16, 2015).
- States that the CFPB's withdrawal rule "shall have no force or effect," effectively keeping Bulletin 2015-07 in place.
- Bulletin 2015-07 provides guidance on in-person collection of consumer debt, advising debt collectors on legal practices during face-to-face interactions with consumers.
Significant Changes to Existing Law
- No new laws are created; instead, it reverses the CFPB's administrative action to eliminate the 2015 bulletin.
- Prevents the bulletin from being withdrawn, maintaining its status as non-binding guidance (not a formal regulation, but influential advice for debt collectors to avoid violating consumer protection laws like the Fair Debt Collection Practices Act).
Potential Impacts
- Government agencies: Limits CFPB's ability to rescind its own prior guidance, potentially requiring ongoing enforcement resources.
- Citizens (consumers): Preserves existing protections against abusive in-person debt collection tactics, such as harassment or deception.
- Debt collection industry: Maintains compliance requirements under the bulletin, possibly increasing operational scrutiny but avoiding regulatory uncertainty from withdrawal.
- No direct impact on international relations.
Main Stakeholders Affected
- CFPB: Loses authority over its withdrawal decision.
- Debt collectors and financial institutions: Must continue following the 2015 bulletin.
- Consumers: Benefit from continued guidance aimed at fair debt collection practices.
Notable Legal, Constitutional, or Political Implications
- Legal: Exemplifies the Congressional Review Act's power to review and nullify agency actions within a specific time window, reinforcing Congress's oversight of executive branch rulemaking.
- Constitutional: Aligns with separation of powers by allowing legislative check on administrative agencies; no direct constitutional challenges noted.
- Political: Introduced by Sen. Hickenlooper (D-CO) on April 13, 2026, and referred to the Senate Committee on Banking, Housing, and Urban Affairs—signals bipartisan or targeted congressional interest in consumer financial protections, though passage requires both chambers and presidential approval (or veto override).
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Sen. Hickenlooper, John W. [D-CO]
Recent Actions
- 2026-04-13: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2026-04-13: Introduced in Senate
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 Bulletin 2015–07 re: in-person collection of consumer debt. — issued 2026-04-13 — PDF (2 pages)