119-SJRES-145 Journalist Public Summary

Public Summary: S.J.Res. 145 (119th)

Headline Summary: Overturn the CFPB’s 2025 withdrawal of “permissible purpose” credit‑report guidance so the earlier consumer‑privacy interpretation effectively returns. (regulations.justia.com)

What It Does: This resolution invokes the Congressional Review Act (CRA) to nullify the CFPB’s May 2025 rule that withdrew dozens of guidance documents—including the July 12, 2022 advisory opinion explaining when companies may furnish, obtain, or use credit reports under the Fair Credit Reporting Act. If enacted, a CRA disapproval generally restores the legal status quo that existed before the targeted rule; here, that would mean the 2022 advisory’s interpretation would again be in effect as agency policy, though guidance itself does not carry the force of law. (regulations.justia.com)

Why It Matters: The 2022 advisory tightened expectations around privacy and accuracy—for example, warning that pulling or sharing a consumer report without a specific, lawful purpose under FCRA is prohibited and flagging risks like “name‑only matching.” Reinstating that interpretation could reduce misuse of reports in lending, employment, tenant screening, and other areas, while opponents say formal rulemaking—not guidance—should set policy. (govinfo.gov)

• Who’s For It: Sponsor Sen. Ron Wyden (D‑OR). Supporters generally argue this would restore clear privacy guardrails and reduce uncertainty about when companies may access or share credit reports. Consumer advocates criticized the 2025 withdrawals and emphasize that FCRA’s protections should remain clear and enforceable. (nclc.org)
• Who’s For It: Consumer‑law groups (e.g., NCLC) say withdrawing guidance created confusion and does not change underlying legal duties; they favor retaining prior interpretations as persuasive authority for courts and enforcers. (nclc.org)

• Who’s Against It: Financial‑industry voices welcomed the 2025 withdrawal as reining in expansive, burdensome guidance and prefer formal notice‑and‑comment rules for major policy shifts—so they are likely to oppose reinstating the advisory via CRA. (morganlewis.com)
• Who’s Against It: Some Republican lawmakers previously urged the CFPB to pull back rules and guidance they viewed as overreach, signaling likely opposition to undoing the withdrawals. (consumerfinancemonitor.com)

What’s Next: As of March 25, 2026, the resolution has been introduced and sent to the Senate Banking, Housing, and Urban Affairs Committee. For it to take effect, both chambers must pass it and the President must sign it (or Congress must override a veto) under the CRA’s expedited process. (congress.gov)