John Reed (D-RI)
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".
A Democratic resolution with no cosponsors
Last activity — Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2272)
Introduced, nothing more yet
Formally proposed, and not yet handed to a committee.
Nearly every bill is sent to a committee within days. Introduction alone is not a sign of support, of momentum, or of any likelihood of passing — any member may introduce any bill.
Its path through Congress
- Introduced
What this bill would do
This joint resolution aims to express congressional disapproval of a specific rule submitted by the Bureau of Consumer Financial Protection. The rule in question involves the withdrawal of a previous rule regarding "Truth in Lending (Regulation Z); Use of Digital User Accounts To Access Buy Now, Pay Later Loans." If passed, this resolution would ensure that the Bureau's rule has no force or effect. It was introduced by Mr. Reed in the Senate.
Yes
No question was scored yes.
The opposite
- Scored -5
Does this give people more protection from unfair business practices?
By disapproving the withdrawal of the CFPB rule, this resolution removes protections regarding how digital user accounts are used to access buy now, pay later loans.
- Scored -4
Would households on low incomes be better off under this?
The resolution weakens consumer protections for digital user accounts used for buy now, pay later loans, which disproportionately affects low-income consumers.
- Scored -2
Does this give the federal government more power?
This resolution uses congressional authority to overturn a rule submitted by a federal agency's Bureau.
Who it would affect, and how
Potential Positive Impacts for People
- The text does not provide specific details regarding the direct benefits to individuals or groups of people that would result from this disapproval.
Potential Negative Impacts for People
- The text does not provide specific details regarding the potential negative consequences or burdens that would result from this disapproval.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this give people more protection from unfair business practices? — By disapproving the withdrawal of the CFPB rule, this resolution removes protections regarding how digital user accounts are used to access buy now, pay later loans.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — The resolution weakens consumer protections for digital user accounts used for buy now, pay later loans, which disproportionately affects low-income consumers.
- Governance And Ideology
- Does this give the federal government more power? — This resolution uses congressional authority to overturn a rule submitted by a federal agency's Bureau.
- 5/13/2026
- Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2272)
- 4/27/2026
- Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 390.
- 3/18/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced in Senate