A 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 "Disclosure of Consumer Complaint Data".
- Bill Number
- S.J.Res. 179
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-04-13: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Last Updated
- 2026-04-20T19:09:34Z
AI-Generated Summary
Purpose
This joint resolution (S.J. Res. 179) uses the Congressional Review Act (a law allowing Congress to overturn certain federal agency rules) to block the Bureau of Consumer Financial Protection (CFPB, a government agency that protects consumers in financial matters) from withdrawing its 2013 rule on publicly disclosing consumer complaint data about financial products and services.
Key Provisions
- Disapproval of CFPB Action: Congress explicitly disapproves the CFPB's May 12, 2025, rule (published in the Federal Register) that withdrew the 2013 "Disclosure of Consumer Complaint Data" rule (originally published April 10, 2013).
- No Force or Effect: The CFPB's withdrawal rule is nullified, meaning it cannot be implemented.
Significant Changes to Existing Law
- Reverses the CFPB's attempt to eliminate the 2013 disclosure rule, effectively reinstating or preserving the requirement for the CFPB to publicly share anonymized consumer complaint data.
- No new rules are created; it restores the status quo from the 2013 rule by blocking its repeal.
Potential Impacts
- On Government Agencies: Forces the CFPB to continue operating under the 2013 disclosure rule, potentially increasing its administrative workload for data publication.
- On Citizens: Improves public access to complaint data, helping consumers make informed decisions about financial services and enabling researchers or advocates to identify patterns of misconduct.
- On Financial Industry: Requires continued transparency of complaints, which could heighten scrutiny on banks, lenders, and other providers but does not impose new obligations.
Main Stakeholders Affected
- Consumers and Advocates: Gain or retain access to public complaint databases.
- CFPB: Must maintain the disclosure program.
- Financial Institutions: Subject to ongoing public visibility of complaints against them.
- Congress: Exercises oversight via the Congressional Review Act.
Notable Legal, Constitutional, or Political Implications
- Legal: Invokes Chapter 8 of Title 5, U.S. Code (Congressional Review Act), a fast-track process for Congress to veto agency actions without presidential signature if passed by both chambers.
- Constitutional: Reinforces Congress's oversight of executive branch agencies under Article I powers.
- Political: Introduced by Sen. Warren (D-MA), it highlights partisan divides on consumer protection; passage would require bipartisan support or a veto override, signaling congressional intent to prioritize transparency over agency discretion.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2026-04-13: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2026-04-13: Introduced in Senate
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 Disclosure of Consumer Complaint Data. — issued 2026-04-13 — PDF (2 pages)