H.J.Res. 163 — 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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest".

H.J.Res. 163 — 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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a recent decision made by the Bureau of Consumer Financial Protection (BCFP) to withdraw a specific rule. This rule, known as the "Ability-To-Repay Rule," was designed to ensure that lenders assess a borrower's ability to repay a loan, particularly in situations involving successors-in-interest, such as family members inheriting a property. Key provisions of this resolution include a formal disapproval of the BCFP's action to withdraw the Ability-To-Repay Rule.