SJRES 175
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 "Consumer Financial Protection Circular 2022-02: Deceptive Representations Involving the FDIC's Name or Logo or Deposit Insurance".
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Bill overview
This joint resolution seeks to overturn a rule issued by the Bureau of Consumer Financial Protection. The rule concerned the withdrawal of a previous Consumer Financial Protection Circular (2022-02) that addressed deceptive uses of the FDIC’s name or logo. Congress is using the process of congressional disapproval to invalidate this specific rule, effectively preventing it from being implemented.
Key provisions
- Congress disapproves the Bureau of Consumer Financial Protection rule.
- The rule’s withdrawal of Consumer Financial Protection Circular 2022-02 is nullified.
- The disapproved rule will have no legal effect.
- This action utilizes the congressional disapproval process under Title 5 of the U.S. Code.
Who is affected
- The Bureau of Consumer Financial Protection
- Financial institutions using the FDIC’s name or logo
- Consumers potentially subject to deceptive practices
Notable changes
- This resolution directly challenges a recent Bureau of Consumer Financial Protection rule.
- It aims to reinstate the previous Consumer Financial Protection Circular 2022-02.
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119th CONGRESS — 2d Session
S. J. RES. 175
IN THE SENATE OF THE UNITED STATES
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 Consumer Financial Protection Circular 2022–02: Deceptive Representations Involving the FDIC's Name or Logo or Deposit Insurance
.
That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Consumer Financial Protection Circular 2022–02: Deceptive Representations Involving the FDIC's Name or Logo or Deposit Insurance (87 Fed. Reg. 35866 (June 14, 2022))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.