US Federal Senate Bill SJR140

US Federal 2025-2026 Regular Session

• Introduced: 5/13/26
• Introduced: 3/19/26
• Refer: 3/19/26

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 Credit Reporting; Name-Only Matching Procedures".

Summary

SJR 140 is a congressional disapproval resolution under the Congressional Review Act. It would nullify a Consumer Financial Protection Bureau action that withdrew an earlier rule on “Fair Credit Reporting; Name-Only Matching Procedures,” and would make that withdrawal have no force or effect. In practical terms, the resolution is aimed at restoring the prior CFPB rulemaking posture on how consumer reporting agencies match records when only a person’s name is used, a topic tied to accuracy and identity matching in credit reporting. The measure does not itself create a new regulatory standard; instead, it uses Congress’s disapproval authority to block the CFPB’s withdrawal of a prior rule. If enacted, it would affect the federal regulatory framework under the Fair Credit Reporting Act and related CFPB implementation rules, with consequences for credit bureaus, furnishers of consumer information, lenders, and consumers whose credit files may be matched or merged based on limited identifying information. The bill’s effect would be to preserve or reinstate the withdrawn name-only matching procedures rule rather than allow the withdrawal to stand.

Impact

If approved, the resolution would override the CFPB’s 2025 withdrawal of the 2021 fair credit reporting rule on name-only matching procedures, leaving the withdrawn rule in place as though the withdrawal never occurred. This would directly affect federal consumer financial regulation, especially credit reporting practices, record-matching standards, and compliance obligations for consumer reporting agencies and related market participants. It would not amend state law, but it could influence how state-regulated lenders and consumer protection systems interact with federal credit reporting requirements.

Sentiment

The available legislative history suggests the measure was politically contested rather than broadly consensual. The Senate’s motion to proceed to consideration was rejected by voice vote, indicating insufficient support to advance the resolution at that stage. No committee transcript is available, but the procedural outcome points to a divided view of whether Congress should intervene in the CFPB’s decision to withdraw the rule.

Contention

The central point of contention is whether the CFPB should be allowed to withdraw the name-only matching procedures rule or whether Congress should force the rule to remain effective. Supporters of the resolution are likely focused on consumer protection and accuracy in credit reporting, arguing that name-only matching can lead to mistaken file merges or identity errors. Opponents are likely concerned about congressional interference with agency rulemaking, the burden on credit reporting compliance, or the policy merits of the withdrawn rule itself. The lack of recorded committee debate limits more specific attribution of arguments, but the failed motion to proceed indicates the issue did not command enough support to move forward.