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US SJR128
Joint Resolution
Status
3/17/2026
Primary Sponsor
Catherine Cortez Masto
Click for details
AI Summary
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Congress disapproves the CFPB's May 12, 2025 rule (90 Fed. Reg. 20084) that withdrew Consumer Financial Protection Circular 2024-03 regarding unlawful and unenforceable contract terms and conditions
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The original Circular 2024-03 was published June 21, 2024 (89 Fed. Reg. 51955) and addressed contract provisions that may violate consumer financial protection laws
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Uses the Congressional Review Act (chapter 8 of title 5, U.S. Code) to nullify the CFPB's withdrawal action
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If enacted, the CFPB's withdrawal rule would have no force or effect, effectively reinstating the original consumer protection circular
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Introduced March 17, 2026 by Senator Cortez Masto and referred to the Senate Committee on Banking, Housing, and Urban Affairs
Legislative Description
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 2024-03: Unlawful and Unenforceable Contract Terms and Conditions".
Finance and financial sector
Last Action
Placed on Senate Legislative Calendar under General Orders. Calendar No. 384.
4/27/2026