US Federal Senate Bill SJR177

US Federal 2025-2026 Regular Session

• Introduced: 4/13/26
• Refer: 4/13/26

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 "Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders; Rescission".

Summary

S.J. Res. 177 is a congressional disapproval resolution under the Congressional Review Act. It would overturn a rule issued by the Bureau of Consumer Financial Protection that rescinded a prior CFPB rule concerning the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders.” If enacted, the resolution would nullify the rescission rule and prevent it from taking effect. The underlying CFPB registry rule concerns nonbank financial companies that are subject to certain agency or court orders, and the rescission would remove that regulatory framework. This joint resolution does not create a new regulatory program; instead, it seeks to restore the prior rule by blocking the agency’s withdrawal of it. The bill was introduced in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs.

Impact

If enacted, this resolution would have the legal effect of voiding the CFPB’s rescission rule under chapter 8 of title 5, United States Code, and the rescinded rule would have no force or effect. That would preserve the existing registry framework for certain nonbank covered persons subject to agency or court orders, affecting CFPB oversight and compliance obligations for nonbank financial firms. The measure would not amend state law directly, but it would influence federal consumer-finance regulation and the regulated entities operating in state markets.

Sentiment

Based on the available record, the bill appears to be supported by sponsors who favor maintaining CFPB oversight of nonbank financial firms and opposed by those who support the agency’s decision to rescind the registry rule. No committee transcript or vote data is available, so there is no recorded floor debate or roll-call sentiment in the provided materials. The introduction by Sen. Warren suggests a consumer-protection-oriented posture.

Contention

The central point of contention is whether the CFPB should keep or eliminate the registry of nonbank covered persons subject to certain agency and court orders. Supporters of the resolution are likely to argue that the registry improves transparency, accountability, and enforcement against nonbank financial companies, while opponents are likely to view the rescission as reducing unnecessary regulatory burden. The dispute is therefore between stronger consumer-finance oversight and deregulation of nonbank financial services.