SJRES 169
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 2022-06: Unanticipated Overdraft Fee Assessment Practices".
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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 (2022-06) regarding unanticipated overdraft fee assessment practices. Congress is using the process of congressional disapproval to invalidate this specific rule, effectively preventing it from being implemented.
Key provisions
- Congress disapproves of the Bureau of Consumer Financial Protection’s rule.
- The rule’s withdrawal of Consumer Financial Protection Circular 2022-06 is challenged.
- The rule is deemed to have no legal force or effect.
- This action utilizes the congressional disapproval process under Title 5 of the U.S. Code.
Who is affected
- Consumers
- Banks and financial institutions
- The Bureau of Consumer Financial Protection
Notable changes
- This resolution aims to reverse a specific Bureau of Consumer Financial Protection rule.
- It challenges the agency’s decision to withdraw a prior circular on overdraft fees.
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119th CONGRESS — 2d Session
S. J. RES. 169
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 2022–06: Unanticipated Overdraft Fee Assessment Practices
.
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 2022–06: Unanticipated Overdraft Fee Assessment Practices (87 Fed. Reg. 66935 (November 7, 2022))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.