S.J.Res. 156 — 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".

S.J.Res. 156 — 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". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a rule that was proposed by the Bureau of Consumer Financial Protection. This rule involved the withdrawal of existing regulations related to "Truth in Lending," specifically concerning consumer credit that is offered to borrowers before they actually receive their expected compensation for work. Essentially, this resolution seeks to maintain the previous protections that were in place regarding how lenders communicate credit terms to borrowers.