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 2022-04: Insufficient Data Protection or Security for Sensitive Consumer Information".
- Bill Number
- H.J.Res. 179
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-05-07: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-05-21T14:36:05Z
AI-Generated Summary
Summary of H.J. Res. 179 (119th Congress)
Purpose
This joint resolution uses the Congressional Review Act (CRA)—a law allowing Congress to overturn certain federal agency rules—to block the Bureau of Consumer Financial Protection (CFPB) from withdrawing its earlier guidance document, Consumer Financial Protection Circular 2022-04. The circular addressed inadequate protection of sensitive consumer information by financial companies.
Key Provisions
- Disapproval of withdrawal rule: Targets the CFPB's specific rule (published May 12, 2025, at 90 Fed. Reg. 20084) that withdrew the 2022 circular (published August 6, 2022, at 87 Fed. Reg. 54346).
- No force or effect: If passed, the withdrawal rule becomes invalid, effectively reinstating the original circular.
Significant Changes to Existing Law
- Nullifies the CFPB's attempt to eliminate the 2022 circular, restoring its status as active agency guidance.
- No new laws are created; it reverses an agency action via the CRA process.
Potential Impacts
- Government agencies: Limits CFPB's flexibility to update or remove its own guidance, requiring congressional approval for this withdrawal.
- Citizens (consumers): Maintains CFPB oversight on financial companies' handling of sensitive data (e.g., personal financial details), potentially enhancing consumer protections against data breaches or misuse.
- Financial industry: Companies remain subject to potential enforcement for weak data security practices deemed "unfair, deceptive, or abusive" under the circular.
- No direct impact on international relations.
Main Stakeholders Affected
- Bureau of Consumer Financial Protection (CFPB): Loses ability to withdraw the guidance.
- Financial institutions and service providers: Must continue complying with the circular's standards on data protection.
- Consumers: Benefit from reinstated scrutiny of data handling practices.
- Congress: Exercises oversight over independent agencies like the CFPB.
Notable Legal, Constitutional, or Political Implications
- Legal: Invokes the CRA (5 U.S.C. Chapter 8), a streamlined process for quick congressional veto of agency rules; if enacted, it prevents judicial review of the disapproved rule.
- Constitutional: Reinforces Congress's oversight role over executive branch agencies, upholding separation of powers.
- Political: Introduced by Rep. Maxine Waters (D-CA) on May 7, 2026, and referred to the House Financial Services Committee; signals partisan divide on consumer protection priorities, as it counters a likely change under a different administration.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2026-05-07: Referred to the House Committee on Financial Services.
- 2026-05-07: Introduced in House
- 2026-05-07: Introduced in House
Bill Versions
- 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 2022–04: Insufficient Data Protection or Security for Sensitive Consumer Information". — issued 2026-05-07 — PDF (2 pages)