S.J.Res. 155 — 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 — 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". | JustPolicyThe main purpose of this legislation is to allow Congress to formally disapprove a specific rule created by the Bureau of Consumer Financial Protection. This rule relates to the Fair Credit Reporting Act and addresses how state laws interact with federal regulations regarding credit reporting. The key provision of this resolution is that it states Congress disapproves of the Bureau's rule concerning the preemption of state laws. Essentially, this means that the rule, which may have limited the ability of states to enforce their own credit reporting laws, will not be allowed to take effect.