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); Consumer Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work".
This joint resolution seeks to disapprove a rule proposed by the Bureau of Consumer Financial Protection that would remove existing regulations on consumer credit offered to workers before they are paid. The bill directly affects lenders and financial institutions that provide credit to employees, aiming to maintain current Truth in Lending protections. If passed, the proposed withdrawal of the rule would not take effect, preserving the existing regulatory framework for advance compensation credit. The measure uses the Congressional Review Act process to block the specific regulatory change without altering other financial laws.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2026
Committee Review
Floor Vote
President
Introduced Mar 26, 2026
Last action May 13, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
1
Committee
2
Apr 27, 2026
Upper · Passed
Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
upper
Mar 26, 2026
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Mar 26, 2026
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jeff Merkley
DDemocratic
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