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 "Procedures for Supervisory Designation Proceedings".

This joint resolution proposes to use the Congressional Review Act to formally disapprove of a specific rule issued by the Bureau of Consumer Financial Protection (CFPB). The rule in question involves the withdrawal of previous procedures used for supervisory designation proceedings. If this resolution were to be enacted, it would effectively nullify the CFPB's recent changes to how it identifies and begins overseeing certain nonbank financial companies that may pose risks to consumers. This action aims to prevent the agency from moving forward with its updated framework for these regulatory proceedings. Because this is a binding joint resolution, it would have the force of law if passed by both chambers of Congress and signed by the President. For everyday citizens, the outcome would determine the specific legal processes the government must follow when deciding which financial firms require closer federal monitoring to ensure they are following consumer protection laws.