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; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".
Credit Reporting: Blocking Changes to Consumer Privacy Rules
This bill is currently in the early stages of the legislative process after being introduced in the House. It has been sent to the House Committee on Financial Services for review. There are no further actions scheduled at this time.
Legislative Progress
These types of resolutions are often used as a protest and rarely get enough votes to pass both the House and Senate and then get signed.
Key Points
- This resolution tries to stop the government from canceling an older set of credit reporting rules. It specifically targets a decision by the Bureau of Consumer Financial Protection to withdraw previous privacy protections.
- If this passes, it would keep older rules in place that limit when companies can look at your credit report. This is meant to protect consumers from having their financial data shared too easily.
- This matters because it affects your privacy. It helps decide who can see your financial past when you are trying to rent an apartment, get a credit card, or apply for a job.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official 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 "Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".
Data Sources
Sponsor
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