A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt".

S.J.Res. 126 is a binding joint resolution that would use the Congressional Review Act to disapprove of the Consumer Financial Protection Bureau's decision to withdraw a proposed rule on time-barred debt collection. A time-barred debt is one where the statute of limitations for collection has expired under state law. The proposed rule would have provided additional protections for consumers facing collection attempts on old debts. If enacted, this resolution would prevent the CFPB from withdrawing that rule, effectively keeping the consumer protections in place. This bill is currently in committee and has not yet been voted on by the full Senate. The resolution does not require presidential signature to become law if passed by both chambers of Congress, as it is a binding joint resolution under the Congressional Review Act.