Here is an article about the congressional resolution:
Congress Considers Disapproval of Bureau of Consumer Financial Protection Rule on Medical Information
On June 28, 2025, a significant development occurred in the legislative process concerning consumer protection in the United States. The U.S. Government Publishing Office (GPO) published House Joint Resolution 74 (H.J. Res. 74), also identified as “(IH)” which denotes its introduction stage in the House of Representatives. This resolution specifically addresses a rule submitted by the Bureau of Consumer Financial Protection (BCFP) regarding the use of medical information by creditors and consumer reporting agencies.
H.J. Res. 74 is a formal expression of disapproval of a specific regulation, often referred to as a Congressional Review Act (CRA) resolution. The Congressional Review Act, enacted in 1996, provides Congress with a mechanism to review and potentially overturn regulations issued by federal agencies. Under the CRA, if Congress passes a joint resolution of disapproval, the agency is generally prohibited from issuing a rule that is substantially the same as the disapproved rule in the future.
The rule in question, which the BCFP submitted, pertains to the “Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V).” While the exact details of the BCFP’s regulation are not fully elaborated in the title, it suggests a focus on limiting how creditors and consumer reporting agencies can utilize or be influenced by an individual’s medical information. This could encompass areas such as credit scoring, debt collection, or the reporting of medical debt on credit files.
The introduction of H.J. Res. 74 signifies that members of the House of Representatives have taken issue with the BCFP’s regulatory approach to medical information. The underlying reasons for this disapproval will likely become clearer as the resolution progresses through the legislative process. Potential concerns could range from the scope of the prohibition, its potential impact on the financial services industry, to interpretations of existing laws governing consumer credit and privacy.
As this resolution is in its initial stages, it is now subject to review and potential debate within the House of Representatives. It would need to be passed by the House, then by the Senate, and finally signed by the President to become law and nullify the BCFP’s rule. Alternatively, if the President vetoes the joint resolution, Congress would need to override the veto with a two-thirds majority in both chambers for it to take effect.
The publication of H.J. Res. 74 on govinfo.gov marks the official beginning of a congressional process that could have a notable impact on how medical information is handled within the consumer credit landscape. Further developments will be closely watched as Congress deliberates on this important consumer protection matter.
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www.govinfo.gov published ‘H.J. Res. 74 (IH) – Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Reg ulation V).’ at 2025-06-28 06:45. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.