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 "Debt Collection Practices (Regulation F); Pay-to-Pay Fees".
Summary
S.J.Res. 125 is a congressional disapproval resolution under the Congressional Review Act. It would overturn a Consumer Financial Protection Bureau rule that withdrew an earlier Regulation F rule concerning “Debt Collection Practices” and so-called “pay-to-pay fees.” If enacted, the resolution would nullify the CFPB’s withdrawal rule and prevent it from taking effect.
The measure is procedural in form but substantive in effect: it targets federal consumer-finance regulation governing debt collection practices and fees charged when consumers make payments by phone, online, or through other payment channels. By disapproving the withdrawal, Congress would restore the prior rule’s legal status and affect how debt collectors and related financial service providers may assess or disclose pay-to-pay fees under federal law.
Impact
The resolution would have no direct effect on state statutes, but it would alter the federal regulatory landscape by invalidating a CFPB rule related to Regulation F and debt collection fee practices. Its practical impact would fall on debt collectors, creditors, consumer finance companies, and consumers who are subject to or protected by federal debt collection rules. If adopted, the resolution would reinstate the earlier rule framework and limit the CFPB’s ability to withdraw that regulation absent further action.
Sentiment
The available record suggests the bill is politically contentious rather than broadly consensual. The measure was discharged by petition and later the motion to proceed was rejected in the Senate by voice vote, indicating that it did not advance smoothly and likely faced significant opposition or lack of agreement. No committee transcript is available, but the procedural history points to divided views over federal consumer protection regulation and the CFPB’s authority.
Contention
The main point of contention is whether Congress should override the CFPB’s decision to withdraw the Regulation F pay-to-pay fee rule. Supporters of disapproval would generally favor preserving consumer protections and maintaining limits on debt collection fees, while opponents would likely argue that the CFPB should retain discretion to revise or withdraw its own regulations. The dispute centers on debt collection policy, consumer fees, and the scope of federal regulatory authority under the Congressional Review Act.