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".

Overview

SJRES 173 is a joint resolution introduced in the 119th Congress that seeks to disapprove a specific rule issued by the Bureau of Consumer Financial Protection (CFPB) under the Congressional disapproval process provided in chapter 8 of title 5, United States Code. If enacted, the resolution would nullify the targeted CFPB rule and prevent it from having any legal force or effect.

Main purpose and intent

• To disapprove the CFPB rule described as “the withdrawal of the rule relating to ‘Consumer Financial Protection Circular 2022–07: Reasonable Investigation of Consumer Reporting Disputes.’”
• The effect would be to withdraw or negate the cited rule, returning the status quo prior to its publication and preventing the rule from taking effect or remaining in force.

Key provisions and changes

• Congressional disapproval under chapter 8 of title 5 U.S.C. is invoked to repeal the specific CFPB rule.
• The rule in question is identified by reference to:
  • The CFPB’s withdrawal of its previously issued rule “Consumer Financial Protection Circular 2022–07: Reasonable Investigation of Consumer Reporting Disputes.”
  • The Federal Register citations: 87 Fed. Reg. 71507 (November 23, 2022) and 90 Fed. Reg. 20084 (May 12, 2025) as the rule’s publication and withdrawal notices.
• The resolution explicitly states that, upon passage, the rule shall have no force or effect.

Affected parties and impact

• Directly affects the CFPB and its regulatory actions by nullifying the specific withdrawal rule.
• Consumers and entities subject to rules governing consumer reporting disputes may experience a statutory restoration of prior CFPB guidance or rules, depending on the regulatory landscape prior to the targeted rule.
• Regulatory compliance posture for entities that relied on or anticipated the withdrawal rule may need adjustment if the disapproval reverts to earlier standards (or to no such standard if the withdrawal created ambiguity).

Procedural and timeline aspects

• Introduced in the Senate by Senator Tammy Duckworth (co-sponsor).
• The bill was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on April 13, 2026.
• As a joint resolution under the Congressional disapproval process, if passed by both chambers and signed into law, it would immediately nullify the targeted CFPB rule.

Notes

• The bill uses the formal mechanism available under 5 U.S.C. chapter 8 for disapproval of federal agency rules, effectively giving Congress a direct countermeasure to strike down the CFPB rule without the president’s approval if enacted.
• The summary reflects the text and intent as presented in the bill’s description and action history.