Legislation4 days ago
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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
SJRES168119th CongressWALLET
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 "Consumer Financial Protection Circular 2024-01: Preferencing and Steering Practices by Digital Intermediaries for Consumer Financial Products or Services".
Sponsored By: Senator Sen. Warren, Elizabeth [D-MA]
Introduced
Summary
This resolution nullifies the Bureau of Consumer Financial Protection's rule that would withdraw Consumer Financial Protection Circular 2024-01. That preserves the circular and its guidance on preferencing and steering practices by digital intermediaries for consumer financial products and services.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keep CFPB steering guidance for consumers
If enacted, this resolution would disapprove the CFPB rule that withdrew Circular 2024-01. That would render the CFPB withdrawal rule (90 Fed. Reg. 20084, May 12, 2025) without force or effect. The Circular (Consumer Financial Protection Circular 2024-01; 89 Fed. Reg. 17706, March 12, 2024) guides preferencing and steering by digital intermediaries for consumer financial products and services. If passed, consumers using online financial platforms would keep those protections, and digital platforms and financial firms would remain covered by the guidance.
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Sponsors & CoSponsors
Sponsor
Sen. Warren, Elizabeth [D-MA]
MA • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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