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119-sjres-170119th 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 "Compliance Bulletin 2016-03: Detecting and Preventing Consumer Harm From Production Incentives".

Sponsored By: Senator Warren, Elizabeth [D-MA]

Introduced

Summary

Preserves the Bureau of Consumer Financial Protection's Compliance Bulletin 2016-03. This bill would disapprove the Bureau of Consumer Financial Protection rule that withdraws Compliance Bulletin 2016-03, and that withdrawal would have no force or effect.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Keep consumer bureau guidance on pay incentives

This bill would disapprove a CFPB rule that withdrew Compliance Bulletin 2016-03, the 2017 guidance on production incentives. If enacted, the CFPB rule published at 90 Fed. Reg. 20084 (May 12, 2025) would have no force or effect. That would leave the 2017 bulletin (82 Fed. Reg. 5541 (Jan. 18, 2017)) in place. The change would preserve CFPB guidance meant to reduce consumer harm from some financial-firm pay incentives, and it would not change funding, eligibility, or taxes.

Sponsors & CoSponsors

Sponsor

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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