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...
Simple Explanation
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.