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 "Fair Credit Reporting; Background Screening".

What This Bill Does

This bill is a "resolution of disapproval," which is a tool Congress can use to cancel a federal rule that an executive agency has recently issued. Specifically, this resolution targets a decision made by the Consumer Financial Protection Bureau (CFPB) — the federal agency that oversees financial products and consumer protections. The CFPB had previously withdrawn (cancelled) an earlier rule about how background screening companies must follow fair credit reporting standards. This congressional resolution is essentially pushing back on that withdrawal, saying Congress disagrees with the CFPB's decision to pull back that rule.

Who Is Affected and How

This bill touches several groups of everyday Americans. Job seekers and renters are most directly affected, because background checks are commonly used by employers and landlords to make hiring and housing decisions. The original fair credit reporting rule that the CFPB withdrew was designed to ensure those background screening reports were accurate and fair. Background screening companies and businesses that use background checks are also affected, as the rule would have imposed standards on how they collect and report personal information. If Congress successfully disapproves the CFPB's withdrawal, it could potentially reinstate stronger consumer protections around the accuracy of background check reports.

Where Things Stand

The resolution was recently introduced in the Senate and sent to the Committee on Banking, Housing, and Urban Affairs, where it will be reviewed before any further votes. To become law, it would need to pass both the full Senate and the House of Representatives, and then be signed by the President. This type of disapproval resolution is a relatively uncommon but established way for Congress to check the actions of federal agencies.