Bill · S.J.Res. 134· Senate(119-SJRES-134)
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 "Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans".
- Introduced
- 3/18/2026
- Last activity
- 5/13/2026 — Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2272)
- Sponsored by
- John Reed
- Cosponsors
- None
- Introduced
What this bill would do
This joint resolution aims to express congressional disapproval of a specific rule submitted by the Bureau of Consumer Financial Protection. The rule in question involves the withdrawal of a previous rule regarding "Truth in Lending (Regulation Z); Use of Digital User Accounts To Access Buy Now, Pay Later Loans." If passed, this resolution would ensure that the Bureau's rule has no force or effect. It was introduced by Mr. Reed in the Senate.
Yes
No question was scored yes.
The opposite
Does this give people more protection from unfair business practices?-5
By disapproving the withdrawal of the CFPB rule, this resolution removes protections regarding how digital user accounts are used to access buy now, pay later loans.
Would households on low incomes be better off under this?-4
The resolution weakens consumer protections for digital user accounts used for buy now, pay later loans, which disproportionately affects low-income consumers.
Does this give the federal government more power?-2
This resolution uses congressional authority to overturn a rule submitted by a federal agency's Bureau.
Who it would affect, and how
Potential Positive Impacts for People
- The text does not provide specific details regarding the direct benefits to individuals or groups of people that would result from this disapproval.
Potential Negative Impacts for People
- The text does not provide specific details regarding the potential negative consequences or burdens that would result from this disapproval.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Consumer Protection-5
- Demographic And Interest Groups
- Good For Low Income Households-4
- Governance And Ideology
- Increases Federal Power-2
- 5/13/2026
- Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2272)
- 4/27/2026
- Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 390.
- 3/18/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced in Senate