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 "Bulletin 2023-01: Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts".
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summary
The Senate joint resolution rejects the Consumer Financial Protection Bureau’s rule that would have withdrawn Bulletin 2023‑01, which set standards for unfair billing and collection practices after bankruptcy discharges of certain student loans. By disapproving the rule, Congress keeps the original guidance in force, protecting borrowers from potentially abusive collection actions. The measure targets the CFPB’s rulemaking authority and the borrowers and lenders affected by the guidance.
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