Congress tries to restore payday lending rules

What it does

This bill blocks a rule change by the Bureau of Consumer Financial Protection. The bureau had removed a 2017 rule. That rule required payday lenders to check if people could pay back loans. This bill says no to that removal. If it passes, the rule comes back.

Who it affects

People who borrow money from payday lenders would get help. Payday lenders would have to check if people can pay back before lending money.

One thing to notice

The bill uses a special law called the Congressional Review Act. This law lets Congress block rules made by government agencies.

From the analysis of the bill text, linked under Primary records below.

Where it stands

• Mar 26, 2026 — Introduced · Congress.gov: “Introduced in Senate”
• Mar 26, 2026 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
• Apr 27, 2026 — Reported out of committee · Congress.gov: “Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c)”

Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.

Words to know

• Bureau of Consumer Financial Protection — A government agency that makes rules to protect people who borrow money.
• payday lenders — Companies that give people small loans for a short time, usually until their next paycheck.
• Congressional Review Act — A law that lets Congress block or undo rules made by government agencies.
• check if people can pay back — Look at whether someone has enough money to repay a loan.