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".
- Bill Number
- H.J.Res. 180
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-05-11: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-05-21T18:16:36Z
AI-Generated Summary
Purpose of the Legislation This joint resolution uses the Congressional Review Act to block a specific rule issued by the Bureau of Consumer Financial Protection (CFPB). The rule in question withdrew an earlier CFPB policy statement on what counts as abusive acts or practices in consumer financial services.
Key Provisions Outlined
- Congress formally disapproves the CFPB rule published at 90 Fed. Reg. 20084 (May 12, 2025).
- That rule had withdrawn the CFPB’s earlier “Statement of Policy Regarding Prohibition on Abusive Acts or Practices” (88 Fed. Reg. 21883, April 12, 2023).
- The disapproved rule is declared to have no legal force or effect.
Significant Changes to Existing Law Introduced
- The resolution prevents the CFPB’s withdrawal from taking effect, leaving the 2023 policy statement in place.
- It does not amend the underlying statute (the Dodd-Frank Act’s prohibition on abusive acts) but overrides the agency’s recent administrative action under the fast-track disapproval process in chapter 8 of title 5, United States Code.
Potential Impacts on Government Agencies, Citizens, or International Relations
- The CFPB cannot implement the withdrawal and must continue operating under the 2023 policy statement.
- Financial companies and consumers may face continued application of the earlier guidance on abusive practices.
- No direct effects on international relations are stated in the resolution.
Main Stakeholders Affected
- The Bureau of Consumer Financial Protection (CFPB), whose rulemaking is overturned.
- Consumer financial services providers subject to the abusive-acts prohibition.
- Consumers who may benefit from or be affected by the retained policy.
- Members of Congress exercising oversight through the Congressional Review Act.
Notable Legal, Constitutional, or Political Implications
- The measure represents a direct congressional check on an executive agency’s interpretation of the term “abusive” under existing consumer-protection law.
- It illustrates use of the Congressional Review Act to nullify an agency rule without needing to pass new legislation.
- The resolution was introduced in the House and referred to the Committee on Financial Services; as a joint resolution, it would require approval by both chambers and the President to take effect.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Rep. Garcia, Sylvia R. [D-TX-29]
Recent Actions
- 2026-05-11: Referred to the House Committee on Financial Services.
- 2026-05-11: Introduced in House
- 2026-05-11: 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 "Statement of Policy Regarding Prohibition on Abusive Acts or Practices". — issued 2026-05-11 — PDF (2 pages)