HJRES 171
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 "Bulletin 2022-06: Unfair Returned Deposited Item 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 in question concerned the withdrawal of a prior rule regarding fees assessed on returned deposited items. Congress is using the process of congressional disapproval, as outlined in U.S. Code, to invalidate this Bureau rule and prevent it from being implemented. This action aims to reinstate the previous rule.
Key provisions
- Congress disapproves of the Bureau of Consumer Financial Protection’s rule.
- The rule’s withdrawal regarding Bulletin 2022-06 is specifically targeted.
- The rule is deemed to have no force or effect.
- This action utilizes the congressional disapproval process.
- It relates to fees on returned deposited items.
Who is affected
- Consumers
- Banks and financial institutions
- The Bureau of Consumer Financial Protection
- The Department of the Treasury
Notable changes
- Reinstatement of the previous rule on returned deposited item fees.
- Limits the Bureau’s authority to withdraw prior rules.
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119th CONGRESS — 2d Session
H. J. RES. 171
IN THE HOUSE OF REPRESENTATIVES
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 Bulletin 2022–06: Unfair Returned Deposited Item 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 Bulletin 2022–06: Unfair Returned Deposited Item Fee Assessment Practices (87 Fed. Reg. 66940 (November 7, 2022))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.