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 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer".
This bill, HJR175, aims to disapprove a rule proposed by the Bureau of Consumer Financial Protection. The rule in question concerns the withdrawal of "Consumer Financial Protection Circular 2024-02," which addresses deceptive marketing practices related to the speed or cost of sending a remittance transfer. Essentially, it seeks to block the Bureau's decision to withdraw this specific rule.
If passed, this bill would affect consumers and financial institutions by potentially reversing the Bureau's action on the deceptive marketing rule. This could impact how financial institutions market their remittance services, ensuring they provide accurate information about the speed and cost of transfers to consumers.
As of May 4, 2026, the bill has been introduced in the House and referred to the House Committee on Financial Services. No further action has been recorded yet, so the bill is currently in its initial stages of the legislative process.
