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 "Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents".
Military Lending: Restoring Oversight of Financial Risks to Servicemembers
Legislative Progress
Key Points
- This resolution aims to cancel a decision made by the Consumer Financial Protection Bureau (CFPB) in 2025. That decision had stopped the agency from performing specific checks to see if lenders were following the law when dealing with military members.
- The policy affects active-duty military members and their families. It is designed to ensure that the government continues to actively look for predatory lending or unfair financial practices that specifically target people serving in the armed forces.
- Military members are often targets for high-interest loans and other risky financial products. By blocking the CFPB's attempt to scale back oversight, this resolution forces the agency to keep using its power to protect soldiers from being cheated by banks or lenders.
- This action uses a special process that allows Congress to vote to throw out rules made by government agencies. If this resolution passes and is signed, the CFPB's previous move to reduce these military protections will be legally erased.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Motion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 48 - 52. Record Vote Number: 121.
The Senate is voting on whether to even start debating this bill. This vote can be used to block bills before discussion begins.
Motion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 48 - 52. Record Vote Number: 121. (consideration: CR S2264-2265)
The Senate is voting on whether to even start debating this bill. This vote can be used to block bills before discussion begins.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 388.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Vote Results
1 voteOn the Motion to Proceed
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
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 "Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents".
Data Sources
Sponsor
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