This joint resolution would overturn a recent action by the Consumer Financial Protection Bureau (CFPB) that sought to withdraw "Consumer Financial Protection Circular 2023-01: Unlawful Negative Option Marketing Practices." The resolution says the CFPB rule that would withdraw that circular "shall have no force or effect," which would keep the 2023 circular in place.
If Congress passes this resolution and it becomes law, the CFPB's withdrawal of Circular 2023-01 would be canceled and the circular would remain on the books. The bill text and metadata do not describe specific changes to enforcement, who would be affected, or how businesses or consumers would be treated.
No publicly available information about costs, budgetary effects, or federal spending is included in the bill text or metadata.
Sponsor: Representative Janelle Bynum filed the resolution. No publicly available information in the bill text or metadata explains proponents' arguments or detailed reasons for the disapproval.
No publicly available information in the bill text or metadata explains opponents' arguments or concerns.