H.J.Res. 195House118th 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".

Introduced August 2, 2024

AI-Generated Summary

Updated January 20, 2026 at 6:22 PM UTC

This joint resolution directs Congress to disapprove a Consumer Financial Protection Bureau rule that expands Truth‑in‑Lending (Regulation Z) to cover the use of digital user accounts for accessing buy‑now‑pay‑later (BNPL) loans. If adopted, the rule would be nullified and have no legal effect. The action primarily impacts consumers, lenders, and BNPL service providers that would have been subject to the new requirements.

Key Provisions

  • Congress formally disapproves the CFPB rule on digital user accounts for BNPL loans (published May 31, 2024, 89 Fed. Reg. 47068).
  • The disapproved rule shall have no force or effect.

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action
HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

August 2, 2024

View full timeline
HouseIntro Referral

Introduced in House

August 2, 2024

HouseIntro Referral

Referred to the House Committee on Financial Services.

August 2, 2024

Floor Debate

1 member

What members said about H.J.Res. 195 on the floor

1 Democrat
Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Jun 15, 2023

Mr. Speaker, I wish my colleagues a happy Juneteenth. I hope they will celebrate Juneteenth as we leave for this Juneteenth commemoration. H. Res. 1001, my resolution to recognize Juneteenth, June…

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in HouseIssued August 2, 2024

IA

118th CONGRESS

2d Session

H. J. RES. 195

IN THE HOUSE OF REPRESENTATIVES

August 2, 2024

Mr. Donalds (for himself and Mr. Hill) 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.