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SJRES 175

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 2022-02: Deceptive Representations Involving the FDIC's Name or Logo or Deposit Insurance".

119th Congress Introduced by Elizabeth Warren

The bill uses Congress’s disapproval process to invalidate the Bureau of Consumer Financial Protection’s withdrawal of Circular 2022-02, keeping the FDIC-related guidance in place.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · SJRES 175

Summary of SJRES 175 (119th Congress)

A joint resolution introduced April 13, 2026 by Senator Elizabeth Warren, co-sponsored by others, seeking to disapprove a specific Bureau of Consumer Financial Protection (BCFP) rule under Congress’ disapproval process.

1) Main purpose and intent

  • The bill uses the congressional disapproval mechanism (Chapter 8 of Title 5, United States Code) to overturn a BCFP rule.
  • Specifically, it targets the rule: “Consumer Financial Protection Circular 2022-02: Deceptive Representations Involving the FDIC's Name or Logo or Deposit Insurance,” including its withdrawal.
  • The resolution states that Congress disapproves the BCFP rule withdrawing that circular and provides that the rule shall have no force or effect.

2) Key provisions and changes

  • Disapproval action: Congress would formally disapprove the BCFP rule referenced above.
  • Effect of disapproval: The rule (the withdrawal of the circular) would have no force or effect, effectively restoring the status quo or preventing the withdrawal from taking effect.
  • Statutory citation: The rule is identified as having been published at 87 Fed. Reg. 35866 (June 14, 2022) and later referenced as 90 Fed. Reg. 20084 (May 12, 2025) in the bill text.
  • Legal mechanism: Uses the Congressional disapproval procedure codified in 5 U.S.C. chapter 8, which, if enacted, supersedes the agency action.

3) Who or what is affected

  • Federal agency action: The Bureau of Consumer Financial Protection (BCFP) would be constrained from enforcing or effecting the withdrawal of the circular, as the disapproval neutralizes that rule.
  • Consumer protections: Indirectly, the disapproval maintains or reinstates the original guidance or representation standards related to the FDIC’s name, logo, or deposit insurance as reflected in the Circular 2022-02, since the withdrawal would be voided.
  • FDIC-related representations: Individuals and entities making or relying on representations that reference the FDIC’s name, logo, or deposit insurance could be impacted, as the withdrawal of the circular would not occur.

4) Procedural and timeline aspects

  • Status: Introduced in the Senate on April 13, 2026; referred to the Committee on Banking, Housing, and Urban Affairs.
  • Process: If passed by both chambers under the disapproval process, the President’s approval would be required to veto; otherwise, the disapproval resolution would become law, and the rule would have no force or effect.
  • Relation to rule: The targeted rule originates from June 14, 2022 (87 Fed. Reg. 35866) and was noted to have a withdrawal action in May 12, 2025 (90 Fed. Reg. 20084).

Additional notes

  • The bill is a straightforward use of the congressional disapproval mechanism to nullify a specific BCFP rulemaking action.
  • It does not introduce new regulatory standards but instead preserves or reinstates prior guidance by preventing the withdrawal from taking effect.

Compiled from official sources — confirm details with the bill’s official record.

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