Providing for congressional disapproval under chapter 8 of title...
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 "Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements".
This bill, HJR164, seeks to reject a rule from the Bureau of Consumer Financial Protection that involves withdrawing regulations related to "Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements". Essentially, it aims to prevent the Bureau from taking away rules that protect consumers when their credit terms are changed or revoked.
The bill would impact consumers who rely on the protections of Regulation B, ensuring they are informed and have rights when their credit terms are altered. It would also affect financial institutions that must comply with these regulations. If the bill passes, it would mean that the rule withdrawal cannot proceed without congressional approval.
Currently, the bill has just been introduced and referred to the House Committee on Financial Services. It is at the very beginning of the legislative process, and no further actions have been taken yet. The bill was introduced and referred on the same day, April 30, 2026.
