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 "Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements".

This joint resolution proposes to use the Congressional Review Act to overturn a specific rule issued by the Bureau of Consumer Financial Protection (CFPB). The rule in question involves the withdrawal of previous regulations concerning the Equal Credit Opportunity Act, specifically focusing on how lenders handle revocations or unfavorable changes to the terms of existing credit arrangements for consumers.

If enacted, this legislation would effectively cancel the CFPB's recent regulatory action and prevent the agency from issuing a similar rule in the future without new authorization from Congress. For everyday citizens, this could impact the transparency and notification requirements lenders must follow when they decide to close a credit account or significantly alter the terms of a person's existing credit line.