H. J. RES. 122 seeks to disapprove a rule established by the Bureau of Consumer Financial Protection regarding "Credit Card Penalty Fees," also known as Regulation Z. It was introduced in the House of Representatives by Mr. Barr and other members and has been referred to the...
Congress is talking about a rule that deals with fees when people don't pay their credit card bills on time. Some members of Congress want this rule to be canceled, so it doesn't start.
H. J. RES. 122 aims to nullify a rule created by the Bureau of Consumer Financial Protection regarding credit card penalty fees, specifically under Regulation Z. Submitted to the House of Representatives by Mr. Barr and others, this resolution expresses Congress's disapproval...
This bill is like a big "No" from Congress saying they don't agree with a new rule about fees that people have to pay if they make mistakes with their credit cards. It means that if the bill passes, this rule can't be used anymore.
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