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US SJR149
Joint Resolution
AI Summary
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Congressional disapproval resolution under the Congressional Review Act (5 U.S.C. Chapter 8) targeting a CFPB rule withdrawal published May 12, 2025 (90 Fed. Reg. 20084)
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Would nullify the CFPB's withdrawal of consumer protection regulations for contracts for deed (land contracts), a type of seller-financed home sale arrangement
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Original consumer protection rule was published August 23, 2024 (89 Fed. Reg. 68086) under Truth in Lending Act Regulation Z
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Introduced by Senator Schumer on March 26, 2026 and referred to the Senate Committee on Banking, Housing, and Urban Affairs
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If enacted, the CFPB withdrawal rule would have no force or effect, effectively reinstating the original consumer protections for contract-for-deed home purchases
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 "Truth in Lending (Regulation Z); Consumer Protections for Home Sales Financed Under Contracts for Deed".
Finance and financial sector
Last Action
Placed on Senate Legislative Calendar under General Orders. Calendar No. 396.
4/27/2026