S.J.Res. 128 Introduced Finance and Financial Sector

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 "Consumer Financial Protection Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions".

  1. Introduced
  2. Committee
  3. Passed Senate
  4. Passed House
  5. To President
  6. Became law
Sponsor Sen. Cortez Masto, Catherine [D-NV] Introduced March 17, 2026 Cosponsors 0 Latest action May 13, 2026

Summary

This joint resolution reinstates the Consumer Financial Protection Bureau’s (CFPB’s) guidance on unlawful and unenforceable contract terms published in a June 2024 circular. The circular states that consumer financial service providers that include unlawful or unenforceable terms in contracts with consumers (such as a contract that contains an unlawful waiver of the consumer’s right to sue) may be in violation of the Consumer Financial Protection Act's ban on deceptive acts or practices.
The CFPB withdrew this circular on May 12, 2025. This joint resolution disapproves of the rule that withdraws this circular.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. May 13, 2026 Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2270-2271)
  2. Apr 27, 2026 Placed on Senate Legislative Calendar under General Orders. Calendar No. 384.
  3. Apr 27, 2026 Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
  4. Mar 17, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  5. Mar 17, 2026 Introduced in Senate

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