S.J.Res. 129 — 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 "The Fair Credit Reporting Act's Limited Preemption of State Laws".

S.J.Res. 129 — 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 "The Fair Credit Reporting Act's Limited Preemption of State Laws". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a specific rule put forward by the Bureau of Consumer Financial Protection (BCFP). This rule involves the withdrawal of a previous regulation that limited how state laws can interact with the Fair Credit Reporting Act. Essentially, it aims to prevent the BCFP from removing protections that states could offer regarding credit reporting. Key provisions of this resolution include the formal disapproval of the BCFP's rule, which means that the rule will not take effect.