hold on there's just too much going on in Congress lmao...
Blocks CFPB from canceling rules on how it designates firms for supervision.
Introduced by Sen. Warren (D-MA). Referred to Banking Committee.
Introduced, no committee vote yet.
The resolution disapproves a CFPB rule that withdrew earlier procedures for designating nonbank financial companies for supervision. Sponsoring Senator Elizabeth Warren has been a vocal critic of deregulation. The bill is currently in committee and has not yet received a vote in the Senate.
Introduced Apr 13, 2026
This bill is under review by a committee. The committee holds hearings, gathers testimony from experts and stakeholders, and may propose amendments. If the committee votes to advance it, the bill moves to the full chamber for debate and a vote.
If the resolution passes, the CFPB would retain formal procedures for designating nonbank financial firms as needing supervision. This means companies like payday lenders or large debt collectors could be subject to federal examinations. For consumers, this could mean the CFPB remains more active in policing unfair practices.
Supporters Say
Supporters say keeping formal designation procedures ensures the CFPB can hold nonbank financial firms accountable for consumer protection violations.
Critics Say
Critics argue that formal procedures are burdensome and that the CFPB should have flexibility to adapt oversight without rigid rules.
Consumer advocacy groups support the resolution to maintain transparency in how companies are selected for supervision. Industry groups oppose it, stating the procedures could slow down oversight and create uncertainty for businesses.