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H.J.Res. 190House118th Congress (2023-2025)In Committee

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 "Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans".

Sponsored by Gary J. PalmerRep. Gary J. Palmer (R-AL)
Introduced July 18, 2024

AI-Generated Summary

Updated January 20, 2026 at 5:56 PM UTC

This joint resolution directs Congress to disapprove a Consumer Financial Protection Bureau rule that would allow lenders to use digital user accounts to access buy‑now‑pay‑later (BNPL) loans under the Truth in Lending (Regulation Z) framework. If adopted, the rule would be nullified and have no legal effect, impacting lenders, consumers, and the CFPB’s regulatory authority.

Key Provisions

  • Congress formally disapproves the CFPB rule on using digital user accounts for BNPL loans (published May 31, 2024).
  • The disapproved rule is stripped of any force or effect, preventing its implementation.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

Financial Services Committee

July 18, 2024

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HouseIntro Referral

Introduced in House

July 18, 2024

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

July 18, 2024

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Introduced in HouseIssued July 18, 2024

IA

118th CONGRESS

2d Session

H. J. RES. 190

IN THE HOUSE OF REPRESENTATIVES

July 18, 2024

Mr. Palmer submitted the following joint resolution; which was referred to the Committee on Financial Services

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 Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans.

That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans (89 Fed. Reg. 47068; published May 31, 2024), and such rule shall have no force or effect.