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); Use of Digital User Accounts to Access Buy Now, Pay Later Loans".

Summary

The Senate joint resolution rejects a Consumer Financial Protection Bureau rule that would undo a regulation covering the use of digital accounts for "Buy Now, Pay Later" loans under Truth‑in‑Lending (Regulation Z). If the disapproval takes effect, the withdrawn rule will have no legal force. The measure was introduced by Sen. Jack Reed and has not advanced beyond an initial vote to consider it.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share