US Federal Senate Bill SJR126

US Federal 2025-2026 Regular Session

• Introduced: 5/13/26
• Introduced: 3/17/26
• Refer: 3/17/26

Caption

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 "Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt".

Summary

SJR126 is a congressional disapproval resolution under the Congressional Review Act. It would overturn a Bureau of Consumer Financial Protection rule that withdrew an earlier CFPB rule concerning the Fair Debt Collection Practices Act (Regulation F) and the treatment of time-barred debt. If enacted, the resolution would nullify the withdrawal rule and leave it with no force or effect. The underlying policy issue involves debt collection communications about debts that are past the statute of limitations. Regulation F originally addressed how debt collectors may discuss or attempt to collect time-barred debt, including consumer disclosures and limits intended to reduce misleading or abusive collection practices. This joint resolution does not create a new debt-collection standard; instead, it uses congressional disapproval to block the CFPB’s withdrawal action and preserve the prior regulatory framework.

Impact

The bill would affect federal consumer finance regulation rather than state law directly. By disapproving the CFPB’s withdrawal rule, it would restore the legal status quo of the earlier Regulation F time-barred debt rule and prevent the agency’s withdrawal from taking effect. The practical impact would be on debt collectors, consumers with old debts, and compliance obligations under the Fair Debt Collection Practices Act and CFPB regulations.

Sentiment

The available legislative history shows limited recorded debate or voting detail, but the measure advanced procedurally far enough to be placed on the calendar after committee discharge by petition. The last recorded action was a motion to proceed to consideration being rejected in the Senate by voice vote, suggesting insufficient support to move the resolution forward at that stage. Overall, the bill appears to reflect a deregulatory-versus-consumer-protection divide rather than broad bipartisan consensus.

Contention

The main point of contention is whether the CFPB should be allowed to withdraw its time-barred debt rule. Supporters of disapproval are likely to argue that the original rule better protects consumers from misleading collection efforts on old debts, while opponents are likely to favor the agency’s withdrawal as a reduction in regulatory burden for debt collectors and creditors. The dispute centers on consumer protection, debt collection practices, and the scope of CFPB authority under Regulation F.