Bill > SJRes164

This joint resolution, passed by both the Senate and House of Representatives, formally disapproves of a rule proposed by the Bureau of Consumer Financial Protection (BCFP), a government agency tasked with protecting consumers in the financial sector. Specifically, Congress is rejecting the BCFP's action to withdraw a previous rule, known as "Consumer Financial Protection Circular 2022-04," which addressed concerns about inadequate protection or security for sensitive consumer information. By disapproving this withdrawal, Congress is ensuring that the original circular, which aimed to safeguard consumer data, remains in effect and has legal standing, preventing its removal. This action is taken under Chapter 8 of Title 5 of the United States Code, which outlines the process for Congress to review and potentially overturn regulations issued by federal agencies.