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 "Fair Credit Reporting; File Disclosure".

Key Points

• This proposal would stop the Consumer Financial Protection Bureau from getting rid of a rule about credit reports. The agency had moved to withdraw a 2024 rule that was meant to make it clearer how credit reporting companies show you the information they have on file.
• If this resolution passes, the agency would be blocked from canceling those disclosure requirements. This would likely mean credit reporting companies have to follow stricter rules when you ask to see your credit history.
• Credit reports are used by banks, landlords, and even employers to make big decisions about your life. This action is intended to make sure consumers have better access to their own data so they can check for mistakes.
• This move uses a specific power Congress has to review and cancel rules made by government agencies. If both the House and Senate agree, the agency's May 2025 decision to drop the disclosure rule would be completely erased.
• While this helps consumers see their data, some may argue that these rules create extra paperwork and costs for the companies that manage credit files. This resolution would prioritize consumer access over reducing those business requirements.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.