Providing for congressional disapproval under chapter 8 of title...
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 2023-02: Reopening Deposit Accounts That Consumers Previously Closed".
This bill, HJR173, proposes to reject a rule by the Bureau of Consumer Financial Protection. The rule in question is about reopening deposit accounts that consumers had previously closed. The bill uses a process called "congressional disapproval," which allows Congress to overturn certain types of rules submitted by federal agencies.
The bill would affect people who have closed deposit accounts and might be impacted by the rule's withdrawal. If the bill passes, the rule would be nullified, potentially affecting how banks handle closed accounts and consumer rights related to these accounts.
As of May 4, 2026, the bill has just been introduced in the House of Representatives and referred to the House Committee on Financial Services. This means it is in the very early stages of the legislative process. It has not yet been debated or voted on by the full House or Senate.
