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 "Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".

Overview

• Bill: H.J.Res.165
• Session: 119th Congress, 2nd Session
• Title: 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 “Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports”
• Introduced: April 30, 2026
• Sponsor: Rep. Brittany Pettersen (co-sponsor)
• Status: Referred to the House Committee on Financial Services

Purpose and intent

• The joint resolution uses the Congressional disapproval process under the Small Business Regulatory Flexibility Act procedures (chapter 8 of title 5, U.S.C.) to disapprove a specific Bureau of Consumer Financial Protection (BCFP) rule.
• It targets the BCFP rule that withdraws the previously issued rule on “Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports.”
• If enacted, the resolution would nullify the withdrawal rule and restore the prior rule to have no force or effect, effectively preventing the withdrawal from standing.

Key provisions and changes

• Legislative action: Provides for congressional disapproval of a federal agency rule through a joint resolution.
• Targeted rule:
  • The withdrawal thereof of the rule titled “Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports.”
  • Original rule reference: 87 Fed. Reg. 41243 (July 12, 2022) and the withdrawal action noted at 90 Fed. Reg. 20084 (May 12, 2025).
• Effect if enacted:
  • The rule withdrawing the 2022 rule would have no force or effect.
  • The previously existing rule (the 2022 rule) would remain in effect (i.e., the withdrawal would be overturned).

Who or what would be affected

• Federal regulation on consumer reporting:
  • The BCFP rulemaking regarding permissible purposes for furnishing, using, and obtaining consumer reports.
• Stakeholders impacted by the rule:
  • Consumers, individuals whose consumer reports are accessed or shared.
  • lenders, employers, insurers, and other entities that rely on consumer reports.
  • Consumer reporting agencies that collect, furnish, and use consumer information.
• The resolution would ensure continuity or reinstatement of the 2022 rule’s framework governing permissible purposes for consumer reports, rather than allowing the 2025 withdrawal.

Procedural and timeline aspects

• Mechanism: Congressional disapproval under chapter 8 of title 5, U.S.C. (established for expedited disapproval of agency rules).
• Process steps (implied):
  • Joint resolution introduced in the House (and Senate action would follow per the normal process for this disapproval mechanism).
  • If passed by both chambers and enacted, the rule would be treated as having no force or effect.
• Current status as of the message:
  • Introduced and referred to the House Committee on Financial Services (April 30, 2026).
• Related regulatory timeline:
  • The rule being disapproved concerns a withdrawal action from May 12, 2025, and the original rule publication July 12, 2022.

Potential implications

• Regulatory certainty: Restores the 2022 rule framework for permissible purposes for furnishing, using, and obtaining consumer reports.
• Enforcement and compliance: Affected entities may revert to compliance obligations under the reinstated rule, with associated oversight by the BCFP.
• Policy and balance: The resolution reflects a legislative stance on how consumer-reporting rules should be administered, potentially impacting privacy safeguards, data-sharing practices, and risk management for entities relying on consumer reports.