S.J.Res. 146Senate119th Congress (2025-2027)In Committee

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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest".

AI-Generated Summary

Updated March 27, 2026 at 2:52 AM UTC

This joint resolution tells Congress to reject a Consumer Financial Protection Bureau rule that removed a regulation about how the ability‑to‑repay rule under Regulation Z applies when a loan is transferred to a successor‑in‑interest. By disapproving the withdrawal, the original regulation stays in force, affecting lenders and borrowers in those situations.

Key Provisions

Congress disapproves the CFPB rule that withdrew the regulation on applying Regulation Z’s ability‑to‑repay requirements to certain successor‑in‑interest situations, so the withdrawn rule will have no legal effect.

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 25, 2026

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SenateIntro Referral

Introduced in Senate

March 25, 2026

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 25, 2026

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Introduced in SenateIssued March 25, 2026

IIA

119th CONGRESS

2d Session

S. J. RES. 146

IN THE SENATE OF THE UNITED STATES

March 25, 2026

Mr. Schiff introduced the following joint resolution; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

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 Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest.

That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest (79 Fed. Reg. 41631 (July 17, 2014)) (90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.