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 "Credit Card Penalty Fees (Regulation Z)".

Bill 118 hjres 122, also known as the "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 Credit Card Penalty Fees (Regulation Z)", is a piece of legislation that aims to overturn a rule proposed by the Bureau of Consumer Financial Protection regarding credit card penalty fees.

The rule in question, known as Regulation Z, seeks to regulate the fees that credit card companies can charge consumers for late payments or exceeding their credit limit. The Bureau of Consumer Financial Protection believes that these penalty fees can be excessive and unfair to consumers, and therefore proposed this rule to limit the amount that credit card companies can charge.

However, some members of Congress believe that this rule would have negative consequences for the credit card industry and could potentially limit consumers' access to credit. As a result, Bill 118 hjres 122 was introduced to disapprove of the rule and prevent it from being implemented. The bill is currently being debated in Congress, with supporters arguing that it is necessary to protect consumers from unfair fees, while opponents argue that it could harm the credit card industry and limit consumer choice. It remains to be seen how this legislation will ultimately be resolved.