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".

The bill was introduced in the House of Representatives on April 30, 2026, and referred to the Committee on Financial Services. For it to become law, it must pass both the House and Senate, and then be signed by the President. It is currently in the initial committee review stage.

If this joint resolution passes, it would prevent the CFPB from withdrawing its rule regarding 'Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports.' This means that the existing regulations governing who can access your credit reports and how that information is used would continue to apply without the changes proposed by the CFPB's withdrawal action. Your consumer credit data would continue to be protected under the current framework.

The bill text focuses solely on the legislative action of disapproving the CFPB's rule withdrawal, without detailing the specific reasons or viewpoints of supporters or critics. Generally, proponents of such a measure would argue it preserves consumer protections, while opponents might assert it hinders necessary updates to federal regulations.