HJRES 180
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 "Statement of Policy Regarding Prohibition on Abusive Acts or 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 statement of policy prohibiting abusive acts or practices by financial institutions. Congress is using the process outlined in U.S. Code, Chapter 8, to effectively nullify this Bureau rule.
Key provisions
- Congress disapproves the Bureau of Consumer Financial Protection’s rule.
- The rule regarding the withdrawal of the ‘Statement of Policy Regarding Prohibition on Abusive Acts or Practices’ is targeted.
- The resolution utilizes the congressional disapproval process under Title 5 of the U.S. Code.
- The disapproved rule will have no legal effect.
Who is affected
- Bureau of Consumer Financial Protection
- Financial Institutions
- Consumers
Notable changes
- This action directly challenges a regulatory decision made by the Bureau of Consumer Financial Protection.
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119th CONGRESS — 2d Session
H. J. RES. 180
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 Statement of Policy Regarding Prohibition on Abusive Acts or Practices
.
That Congress disapproves the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to Statement of Policy Regarding Prohibition on Abusive Acts or Practices (88 Fed. Reg. 21883 (April 12, 2023))
(90 Fed. Reg. 20084 (May 12, 2025)), and such rule shall have no force or effect.