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US SJR146
Joint Resolution
AI Summary
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Congress disapproves of the Consumer Financial Protection Bureau's May 12, 2025 rule (90 Fed. Reg. 20084) that withdrew protections for mortgage successors-in-interest under Regulation Z's Ability-to-Repay requirements.
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The resolution would nullify the CFPB's withdrawal action, effectively restoring the original 2014 rule (79 Fed. Reg. 41631) that applied ability-to-repay standards to successors-in-interest situations.
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Introduced by Senator Schiff on March 25, 2026 and referred to the Committee on Banking, Housing, and Urban Affairs.
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Uses the Congressional Review Act (chapter 8 of title 5, U.S. Code) as the mechanism to overturn the agency rule.
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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest".
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
3/25/2026