Goblin House
Goblin House
Question: Investigate Chuck Schumer: Search parliamentary record for "S.J.Res.149 119th Congress sponsors cosponsors roll call vote text actions". Confirms the resolution's identity, its CRA character, its legal effect (reinstating the CFPB rule on contracts-for-deed Truth in Lending protections), and Schumer's actual role (sponsor vs. cosponsor vs. floor vote).. Report any findings as factual claims with dates and evidence.
Date: 2026-04-18
Senator Chuck Schumer is the primary sponsor of S.J.Res.149, a Congressional Review Act resolution introduced on March 26, 2026, that seeks to reinstate consumer protections for contracts-for-deed transactions under the Truth in Lending Act. The resolution targets the Consumer Financial Protection Bureau's May 12, 2025 withdrawal of an advisory opinion that had affirmed TILA's applicability to contracts-for-deed - predatory financing arrangements that disproportionately harm vulnerable communities. Schumer introduced the resolution without any initial cosponsors, and it currently sits in the Senate Banking Committee.
The underlying CFPB advisory opinion, originally issued August 23, 2024, had clarified that contracts-for-deed constitute credit transactions subject to Truth in Lending Act protections, including ability-to-repay requirements and restrictions on balloon payments. However, the CFPB withdrew this guidance as part of a broader rollback of 67 guidance documents in May 2025. Schumer's resolution would use Congressional Review Act procedures to disapprove this withdrawal and effectively reinstate the consumer protections for contracts-for-deed transactions, which are often used to exploit low-income, minority, and immigrant homebuyers with inflated prices and predatory terms.