Legislation· May 2026Sponsored by Jack Reed (D)
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 "Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents".
Would reject the CFPB's decision to withdraw protections for active-duty military members from predatory lending.
Tradeoff
Blocks a federal agency from withdrawing a rule that required banks to screen for risks to active-duty servicemembers and their dependents. No offsetting costs or benefits are specified in the resolution.
What's in it
The Senate rejected a to this resolution on May 13, 2026, by a vote of 48-52 — leaving the bill stalled.
Senate
Introduced
(Mar 18, 2026)
Senate
Committee on Banking, Housing, and Urban Affairs(Mar 18, 2026)
Senate
Taken away from the Committee on Banking, Housing, and Urban Affairs
Discharged by petition(Apr 27, 2026)
A petition forced the committee to release the bill without acting on it.
Senate
On the
Motion to Proceed to S. J. Res. 132
Motion to Proceed Rejected(Roll #121 · May 13, 2026)
48 yeanay 52
Recently introduced · no floor action yet