HJRES 169
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 2024-05: Improper Overdraft Opt-In 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 rule regarding overdraft opt-in practices (Consumer Financial Protection Circular 2024-05). Congress is using the process outlined in U.S. Code to disapprove of this specific Bureau action, effectively nullifying its impact.
Key provisions
- Congress is exercising its authority to disapprove federal agency rules.
- The resolution targets a specific rule by the Bureau of Consumer Financial Protection.
- The rule in question relates to the withdrawal of a prior rule on overdraft opt-in practices.
- The resolution aims to prevent the withdrawn rule from having any legal effect.
Who is affected
- Consumers
- Banks
- The Bureau of Consumer Financial Protection
- Financial Institutions
Notable changes
- This action could reinstate the previous Consumer Financial Protection Circular 2024-05 regarding overdraft opt-in practices.
- It represents a congressional check on the Bureau's rulemaking authority.
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119th CONGRESS — 2d Session
H. J. RES. 169
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 Consumer Financial Protection Circular 2024–05: Improper Overdraft Opt-In 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 2024–05: Improper Overdraft Opt-In Practices (89 Fed. Reg. 80075 (October 2, 2024))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.