This joint resolution would disapprove a rule submitted by the Bureau of Consumer Financial Protection (CFPB) that withdrew Consumer Financial Protection Circular 2023-02, titled "Reopening Deposit Accounts That Consumers Previously Closed." The resolution states that the CFPB's withdrawal rule (90 Fed. Reg. 20084 (May 12, 2025)) "shall have no force or effect."
If enacted, the resolution would make the CFPB's rule withdrawing Circular 2023-02 invalid. No publicly available information on specific effects for consumers, banks, or accounts beyond the text of the resolution.
No publicly available information about costs, budget estimates, or fiscal effects in the bill text or metadata provided.
No publicly available information on proponents' arguments or reasoning in the provided text or metadata.
No publicly available information on opponents' arguments or reasoning in the provided text or metadata.