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".

Summary

The joint resolution directs Congress to disapprove a CFPB rule that would remove Regulation Z protections for home sales financed under contracts for deed. If adopted, the rule would have no legal effect, keeping the existing consumer safeguards in place. The measure targets borrowers who use contracts for deed and the agency’s ability to change those rules.

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