Senate moves to restore CFPB paycheck advance protections
Placed on the calendarS.J.Res. 156Latest action
Sponsor: Jeff Merkley · Senator · OR
AIDecoded by AI · checked against the recordRead the official text
Official title: 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 Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work".
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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Congress is voting on whether to restore federal disclosure rules for paycheck advance loans, after the CFPB canceled those rules in 2025.
40-second read · 4 questions answered below
What does this do?
This resolution is Congress voting to reject the CFPB's 2025 decision to cancel a rule about paycheck advance loans. That original rule required lenders to clearly disclose costs and terms to borrowers. If this resolution passes, the CFPB's cancellation would have no legal effect, and the original rule could be restored.
Who does it affect?
Workers who use earned wage advance or paycheck advance products are most directly affected. Companies that offer those financial products are also affected.
Why does it matter?
If the resolution passes, lenders offering paycheck advance products may again be required to provide clear disclosures about loan costs and terms. If it does not pass, the CFPB's cancellation of those protections would remain in place.
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Where does it stand?
- IntroducedMar 26, 2026
- Senate committee
- Senate voteYou are here · Apr 27, 2026
- House
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Placed on Senate Legislative Calendar under General Orders. Calendar No. 400.