S.J.Res. 128 · Where this bill is now
In committee
Introduced in the Senate, Mar 17, 2026
What this bill does
In plain words · AI-written from the official summaryRestores CFPB guidance on unfair contract terms
The CFPB published guidance in June 2024 telling financial companies that putting unfair or illegal terms in customer contracts—like stopping people from suing—could break the law. The CFPB withdrew that guidance in May 2025. This resolution would reverse that withdrawal and put the guidance back in effect.
How it affects you
If you use consumer financial services, this affects what companies can put in your contracts. The restored guidance tells financial providers they could face penalties for including unfair terms that limit your legal rights, so it's meant to protect you as a customer.
Read the official summary (Introduced in Senate, Mar 17, 2026)
This joint resolution reinstates the Consumer Financial Protection Bureau’s (CFPB’s) guidance on unlawful and unenforceable contract terms published in a June 2024 circular. The circular states that consumer financial service providers that include unlawful or unenforceable terms in contracts with consumers (such as a contract that contains an unlawful waiver of the consumer’s right to sue) may be in violation of the Consumer Financial Protection Act's ban on deceptive acts or practices.
The CFPB withdrew this circular on May 12, 2025. This joint resolution disapproves of the rule that withdraws this circular.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
2nd SessionS.J.Res. 128
JOINT RESOLUTION
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 "Consumer Financial Protection Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions".
Sponsor: Sen. Catherine Cortez Masto (D-NV) · Introduced Mar 17, 2026 · Finance and Financial Sector · 2 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action May 13, 2026: “Motion to proceed to consideration of measure rejected in Senate by Voice Vote. (consideration: CR S2270-2271)”
Sections
The wording of this bill hasn’t changed across its 2 official versions.