CONGRESS FOR VOTERS

Sheldon Whitehouse (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 "Fair Credit Reporting Act; Preemption of State Laws".

S.J.Res. 155 · Senate resolution Finance and Financial Sector

A Democratic resolution with no cosponsors

Last activity — Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2268-2269)

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

  1. Introduced

What this bill would do

This joint resolution aims to provide congressional disapproval of a specific rule submitted by the Bureau of Consumer Financial Protection. The rule in question relates to the "Fair Credit Reporting Act; Preemption of State Laws." If passed, the resolution would ensure that the rule has no force or effect.

Yes

  • Scored +5

    Does this leave more decisions to the states?

    By disapproving a federal rule that addresses the preemption of state laws, the resolution potentially preserves the ability of states to maintain their own regulatory standards.

The opposite

  • Scored -5

    Does this give people more protection from unfair business practices?

    The resolution disapproves a rule regarding the Fair Credit Reporting Act, which may reduce the ability of states to enforce consumer protections through preemption.

  • Scored -3

    Would households on low incomes be better off under this?

    The disapproval of a consumer protection rule could potentially limit the efficacy of state-level protections for low-income consumers.