S.J.Res. 146 — 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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest".

S.J.Res. 146 — 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 "Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest". | JustPolicyThe main purpose of this legislative resolution is to express Congress's disapproval of a recent decision made by the Bureau of Consumer Financial Protection (CFPB) to withdraw a specific rule. This rule pertains to the "Ability-To-Repay" requirements under Regulation Z, which are designed to ensure that lenders assess a borrower's ability to repay a loan. The resolution aims to keep the original rule in place, which is intended to protect consumers in certain situations involving successors-in-interest, such as family members inheriting property.