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 "Statement of Policy Regarding Prohibition on Abusive Acts or Practices".

Overview

• Type: Joint Resolution
• Congress/session: 119th Congress, 2nd Session
• Introduced: May 11, 2026
• Sponsor: Representative Sylvia Garcia (co-sponsor) -Committee: House Committee on Financial Services
• Purpose: To disapprove, under the congressional disapproval process in chapter 8 of title 5 U.S.C., the Bureau of Consumer Financial Protection (BCFP) rule concerning the withdrawal of the prior rule known as the “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.” If enacted, the disapproval resolution would nullify the BCFP withdrawal rule and the withdrawn rule would have no force or effect.

What the bill does

• Provisions:

  • Congress disapproves the Bureau of Consumer Financial Protection’s rule that withdrew the earlier BCFP rule titled “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”
  • Under the Congressional Review Act’s chapter 8 process (5 U.S.C. chapter 8), a joint resolution of disapproval is enacted to invalidate the agency’s rule and restore the withdrawn rule's status, effectively reinstating the prior rule as if the withdrawal had not occurred.
  • The text specifies the withdrawn rule reference: the withdrawal rule published in the Federal Register at 90 Fed. Reg. 20084 (May 12, 2025), withdrawing the earlier policy from 88 Fed. Reg. 21883 (April 12, 2023).

• Outcome if enacted:

  • The stated rule (the withdrawal rule) would have no force or effect.
  • The original “Statement of Policy Regarding Prohibition on Abusive Acts or Practices” would not be withdrawn and would remain in effect, subject to any further regulatory changes outside this resolution.

Who/what is affected

• Agencies/Regulations:
  • Bureau of Consumer Financial Protection (BCFP)
  • The specific policy/statement on prohibiting abusive acts or practices by financial entities
• Stakeholders:
  • Financial services firms subject to BCFP supervision and enforcement
  • Consumers/market participants protected by the policy against abusive practices
  • Regulatory and compliance professionals interpreting the BCFP’s guidance and policy framework

Key details and context

• The rule being disapproved concerns a withdrawal of a previously established policy statement that prohibits abusive acts or practices in the consumer financial marketplace.
• The timeline referenced in the bill:
  • Primary policy statement: 88 Fed. Reg. 21883 (April 12, 2023)
  • Withdrawal of that policy: 90 Fed. Reg. 20084 (May 12, 2025)
• The resolution uses the congressional disapproval mechanism provided in 5 U.S.C. chapter 8, which allows Congress to overturn agency rules within a prescribed period, with passage of a joint resolution negating the rule.

Procedural and timeline aspects

• Status: Referred to the House Committee on Financial Services (as of introduction date).
• Next steps if advanced: Committee considerations (e.g., hearings, amendments) followed by floor debates and votes in both the House and Senate, and final presentation to the President for signature or veto.
• If enacted, the disapproval resolution would immediately invalidate the withdrawal rule and reinstate the original policy policy statement's effect.

Summary in one sentence

HJRES 180 seeks to nullify the Bureau of Consumer Financial Protection’s May 12, 2025 rule withdrawing the April 12, 2023 policy statement on prohibiting abusive acts or practices, thereby restoring the original policy to remaining effect under the rule, using the congressional disapproval process.