The Consumer Financial Protection Bureau issued guidance in 2024 (Circular 2024-03) warning that certain one-sided terms buried in consumer financial contracts — such as clauses attempting to waive rights consumers cannot legally waive — are unlawful and unenforceable. In May 2025 the Bureau withdrew that guidance. This joint resolution uses the Congressional Review Act, a fast-track tool that lets Congress overturn recent agency actions with a simple majority, to disapprove the withdrawal. If enacted, the 2024 consumer-protection circular would be restored to force, giving consumers a clearer basis to push back on unfair contract language in loans, credit cards, and similar financial products.
Congressional 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.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2026-03-17
- Date Added
- 2026-04-23
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