119-HJRES-184 Journalist Public Summary
A House resolution would nullify the CFPB’s May 12, 2025 move that withdrew its January 23, 2024 “Fair Credit Reporting; File Disclosure” advisory opinion—effectively keeping that consumer file‑disclosure guidance in place if enacted. (govinfo.gov)
Headline Summary
A simple up‑or‑down vote to overturn the CFPB’s 2025 withdrawal of its 2024 guidance on what credit bureaus and background‑check firms must disclose to consumers about their own files. (govinfo.gov)
What It Does
The resolution uses the Congressional Review Act (CRA) to disapprove the CFPB’s May 12, 2025 rule that withdrew the “Fair Credit Reporting; File Disclosure” advisory opinion issued January 23, 2024. If a CRA disapproval becomes law, the targeted rule “shall have no force or effect,” so blocking the withdrawal would leave the 2024 advisory opinion in effect. (That practical outcome follows from how CRA nullifies the withdrawal itself.) (govinfo.gov)
Why It Matters
The 2024 advisory opinion clarified that when people ask to see their file, consumer reporting agencies must provide a complete and accurate disclosure of what they report—or could report—about them. Supporters say this helps job‑seekers and renters fix errors that can cost them opportunities. (govinfo.gov)
Who’s For It
- Consumer and tenant advocates who argue the 2024 opinion ensured people can see a full and accurate copy of what screening firms or credit bureaus report about them. (library.nclc.org)
- Backers concerned about inaccurate background checks and sloppy file‑sharing practices highlighted by the CFPB in 2024. (consumerfinance.gov)
Who’s Against It
- Financial‑industry and compliance voices who supported the CFPB’s 2025 shift away from sub‑regulatory guidance, saying prior advisories created confusion and burdens and that formal rulemaking is preferable. (venable.com)
- Skeptics who warn that using the CRA could restrict future agency flexibility because a disapproved rule generally cannot be re‑issued in “substantially the same” form without new legislation. (uscode.house.gov)
What’s Next
Next steps are standard: committee consideration in the House, then floor votes in both chambers; the president must sign it (or Congress must override a veto). CRA resolutions get expedited procedures in the Senate. (congress.gov)
A parallel Senate measure on the same CFPB withdrawal (S.J.Res. 127) was placed on the Senate calendar on April 27, 2026, signaling active consideration there. (govinfo.gov)
Discussion