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 "Consumer Financial Protection Circular 2022-07: Reasonable Investigation of Consumer Reporting Disputes".
Sen. Duckworth Introduces Resolution to Protect Credit Report Dispute Rules
This bill is currently in the early stages of the legislative process. It was recently introduced and sent to the Senate Committee on Banking, Housing, and Urban Affairs for review. There are no upcoming votes scheduled at this time.
Legislative Progress
This resolution faces a difficult path because it tries to reverse a decision made by a federal agency, which usually requires strong support from both parties.
Key Points
Impact Analysis
Personal Impact
Small business owners often use personal credit to secure business loans and lines of credit. Errors on their credit reports can mean higher interest rates or outright denial of financing. Keeping the dispute investigation requirement in place helps protect their access to capital.
Milestones
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.
Introduced in Senate
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
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 "Consumer Financial Protection Circular 2022-07: Reasonable Investigation of Consumer Reporting Disputes".
Data Sources
Sponsor
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