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 2015-02 re: Section 8 housing choice voucher homeownership program".
- Bill Number
- S.J.Res. 165
- 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
- 2026-04-20T19:11:10Z
AI-Generated Summary
Summary of S.J. Res. 165 (119th Congress, 2d Session)
Purpose
This joint resolution 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). Specifically, it disapproves the CFPB's attempt to withdraw its own 2015 guidance document (Bulletin 2015-02) on the Section 8 Housing Choice Voucher Homeownership Program—a federal program run by the Department of Housing and Urban Development (HUD) that lets low-income families use housing vouchers to help pay mortgages and become homeowners.
Key Provisions
- Disapproval of CFPB Rule: Congress explicitly disapproves the CFPB rule published on May 12, 2025 (90 Fed. Reg. 20084), which sought to cancel Bulletin 2015-02 issued on May 11, 2015.
- No Force or Effect: The CFPB's withdrawal rule is nullified, meaning Bulletin 2015-02 remains in place and continues to guide lenders on consumer protections for participants in the homeownership program.
Significant Changes to Existing Law
- No new laws are created; instead, it reverses the CFPB's administrative action to withdraw prior guidance.
- Reinforces the status quo by keeping the 2015 bulletin active, preventing its removal without congressional approval under the Congressional Review Act (chapter 8 of title 5, U.S. Code).
Potential Impacts
- Government Agencies: Limits CFPB's ability to rescind its own prior guidance, potentially requiring ongoing enforcement of the 2015 bulletin. Indirectly affects HUD in administering the Section 8 program.
- Citizens: Maintains consumer protections for low-income families using Section 8 vouchers for homeownership, ensuring lenders follow CFPB guidelines on fair lending practices.
- No International Relations Impact: Purely domestic, focused on U.S. housing and financial regulation.
Main Stakeholders Affected
- Low-income families: Beneficiaries of Section 8 homeownership vouchers who rely on the protections in Bulletin 2015-02.
- Mortgage lenders and financial institutions: Must continue complying with the 2015 guidance on servicing these loans.
- CFPB: Its regulatory flexibility is curtailed for this specific bulletin.
- HUD: Continues oversight of the program with CFPB guidance intact.
Notable Legal, Constitutional, or Political Implications
- Legal: Invokes the Congressional Review Act, a fast-track process for Congress to veto agency rules within a set window (typically 60 legislative days). If passed by both chambers and signed (or passed over veto), it prevents judicial review of the disapproved rule.
- Constitutional: Upholds Congress's oversight role over executive agencies under Article I, balancing agency rulemaking power.
- Political: Introduced by Sen. Kaine (D-VA) on April 13, 2026, and referred to the Senate Committee on Banking, Housing, and Urban Affairs; signals bipartisan or targeted pushback on agency deregulation in housing finance.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
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 2015–02 re: Section 8 housing choice voucher homeownership program. — issued 2026-04-13 — PDF (2 pages)