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 "Disclosure of Consumer Complaint Data".
Summary
This joint resolution proposes to use the Congressional Review Act to formally disapprove of a rule issued by the Bureau of Consumer Financial Protection (CFPB). The specific rule in question involves the withdrawal of previous regulations related to the disclosure of consumer complaint data. If enacted, this resolution would effectively nullify the CFPB's decision to change how it handles or shares information regarding complaints filed by the public against financial institutions.
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 proposal aims to restore or maintain transparency regarding how the government shares data about consumer grievances. This could impact how much information the public can access about the business practices and complaint histories of banks, lenders, and other financial service providers.