119-SJRES-147 Journalist Public Summary
A Senate resolution would overturn the CFPB’s May 12, 2025 withdrawal of its 2023 policy explaining what counts as “abusive” in consumer finance, keeping that guidance in place by using the Congressional Review Act’s process. (govinfo.gov)
Headline Summary
Undo the CFPB’s 2025 rollback of its 2023 “abusive practices” policy so the stronger consumer-protection guidance stays in place, using the Congressional Review Act. (govinfo.gov)
What It Does
This joint resolution targets a specific CFPB action: in 2025, the Bureau withdrew dozens of guidance documents, including its April 2023 Policy Statement that laid out how it interprets the Dodd‑Frank ban on “abusive” acts or practices. The resolution would nullify that withdrawal. If enacted, the 2023 policy would remain in effect, and—under the Congressional Review Act—the CFPB would be barred from issuing a new rule that is “substantially the same” as the disapproved withdrawal unless Congress later authorizes it. (govinfo.gov)
Why it matters in plain terms: the 2023 policy gives enforcers and companies clearer signposts for what counts as taking “unreasonable advantage” of consumers or materially interfering with their understanding—areas where the law had been less defined. Backers say keeping that guidance helps stop predatory practices; critics say it’s too broad and burdensome. (consumerfinance.gov)
Who’s For It
- Sponsor: Sen. Dick Durbin (D‑IL), who has long backed strong CFPB enforcement against unfair, deceptive, or abusive practices.
- Consumer advocates such as the Center for Responsible Lending, which publicly supported the 2023 “abusive” policy and urged the CFPB to keep it in place. (responsiblelending.org)
- Several state attorneys general who filed supportive comments in 2023 arguing the policy would aid consumer protection efforts. (oag.ca.gov)
Who’s Against It
- Banking trade groups including the American Bankers Association, which criticized the 2023 policy as overly broad and unclear. (aba.com)
- The American Financial Services Association, which argued the 2023 policy went too far and would create compliance burdens. (afsaonline.org)
What’s Next
As of March 25, 2026, the resolution was introduced and referred to the Senate Committee on Banking, Housing, and Urban Affairs. Next steps would be a committee vote, possible Senate floor consideration, and then action in the House before it could reach the President. (Status per the bill text and Congressional Record note provided.)
Discussion