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 "Consumer Financial Protection Circular 2022-04: Insufficient Data Protection or Security for Sensitive Consumer Information".

Overview

• Type: Joint resolution providing for congressional disapproval under the Congressional Review Act (CRA), Chapter 8 of title 5, United States Code.
• Session/Bill: 119th Congress, SJRES 164
• Introduced: April 13, 2026 by Senator (sponsor) Ms. Rosen; Co-sponsor: Jacky Rosen
• Purpose: Disapprove the Bureau of Consumer Financial Protection (BCFP) rule withdrawing the Consumer Financial Protection Circular 2022-04: “Insufficient Data Protection or Security for Sensitive Consumer Information.” If enacted, the rule would have no force or effect.

Main purpose and intent

• The bill uses Congress’s CRA authority to nullify a specific rule, specifically the BCFP’s withdrawal of the rule identified as Consumer Financial Protection Circular 2022-04.
• The underlying withdrawal rule was published as a Federal Register notice: 90 Fed. Reg. 20084 (May 12, 2025), and the original circular appeared at 87 Fed. Reg. 54346 (August 6, 2022).
• By disapproving the withdrawal rule, Congress would prevent the withdrawal from taking effect and restore the status quo as if the withdrawal had not occurred (i.e., the existing rule would remain in place).

Key provisions and changes

• Disapproval of the withdrawal rule: The joint resolution states that Congress disapproves the rule submitted by the BCFP regarding the withdrawal of the 2022 circular.
• Legal effect: If passed by both chambers and signed into law (or enacted under CRA—depending on procedural steps), the rule would have no force or effect.
• Scope: Applies specifically to the BCFP rule withdrawing the “Consumer Financial Protection Circular 2022-04: Insufficient Data Protection or Security for Sensitive Consumer Information.”

Who/what is affected

• Federal agency: Bureau of Consumer Financial Protection (BCFP) would be constrained from implementing the withdrawal rule.
• Regulated interests: Entities subject to consumer financial protection rules and data protection/security requirements could be affected by whether the withdrawal is kept or blocked (depending on passage of the CRA disapproval). In this case, passage would preserve the circular and data-security expectations by preventing the withdrawal.

Procedural and timeline aspects

• Action under the Congressional Review Act: A joint resolution disapproving a federal rule must pass both the Senate and the House and be enacted into law, typically without presidential approval (unless the president vetoes; a veto could be overridden by Congress with a sufficient majority).
• Current status: Read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs (as of April 13, 2026). No final passage status noted in the provided text.
• Effective date: If enacted, the disapproval would render the withdrawal rule null and void; the previous rule (the 2022 circular) would remain in force unless further legislative or regulatory changes occur outside this action.

Practical implications

• Regulatory certainty: Restores the 2022 circular’s provisions regarding data protection or security for sensitive consumer information, contingent on the CRA disapproval becoming law.
• Oversight signal: Demonstrates Congress’s use of CRA to directly shape or halt agency regulatory actions, particularly in the area of consumer data security.
• Potential for litigation or subsequent rulemaking: If Congress disapproves, the BCFP would likely need to consider subsequent rulemaking consistent with the disapproval outcome, or Congress could pursue alternative actions in future legislation.