US Federal Senate Bill SJR149

US Federal 2025-2026 Regular Session

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

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 "Truth in Lending (Regulation Z); Consumer Protections for Home Sales Financed Under Contracts for Deed".

Summary

SJR149 is a joint resolution under the Congressional Review Act that would disapprove a Consumer Financial Protection Bureau action withdrawing a prior rule on “Truth in Lending (Regulation Z); Consumer Protections for Home Sales Financed Under Contracts for Deed.” If enacted, the resolution would nullify the CFPB’s withdrawal rule and leave that withdrawal with no legal force or effect. The underlying regulatory issue concerns consumer protections for home purchases financed through contracts for deed, a form of seller financing often used in lower-income or underserved housing markets. The bill does not itself create new consumer protections; instead, it seeks to restore the regulatory status quo by blocking the CFPB’s withdrawal of the earlier rule.

Impact

If adopted, the resolution would affect federal consumer finance regulation by overturning the CFPB’s withdrawal of the contracts-for-deed rule under chapter 8 of title 5, United States Code. That would preserve the prior rulemaking posture under Regulation Z and could keep or restore disclosure and other protections for buyers using seller-financed home sales. The measure would primarily affect the CFPB, housing finance participants, sellers offering contracts for deed, and consumers relying on this financing arrangement.

Sentiment

The available record suggests the measure is politically contested rather than broadly consensus-driven. The fact that it advanced through a discharge petition indicates supporters were willing to bypass the committee process to force consideration, but the Senate later rejected a motion to proceed by voice vote, showing insufficient support to move the resolution forward. Overall, the sentiment appears to favor consumer protection among proponents, while opponents or non-supporters likely viewed the CRA disapproval as unnecessary or inappropriate.

Contention

The main point of contention is whether Congress should overturn the CFPB’s decision to withdraw the contracts-for-deed consumer protection rule. Supporters likely argue that buyers in seller-financed home sales need stronger disclosures and safeguards because these transactions can be risky and opaque. Opponents likely object to using the Congressional Review Act to reverse the agency’s withdrawal, possibly preferring agency discretion, less federal intervention, or a different approach to regulating this niche housing-finance market.