S. J. RES. 70 is a joint resolution that aims to formally disapprove a rule issued by the Bureau of Consumer Financial Protection. This rule pertains to "Credit Card Penalty Fees," also known as Regulation Z. By passing this resolution, Congress intends to nullify the rule,...
Simple Explanation
S. J. RES. 70 is a decision by Congress to say "no" to a new rule about penalty fees for credit cards, which means they want to stop it from being used. They don't explain why, but they think it's a good idea to prevent this rule from affecting people.