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".
Sponsored By: Representative Meeks, Gregory W. [D-NY-5]
Introduced
Summary
Blocks the CFPB from withdrawing Consumer Financial Protection Circular 2023-02 on reopening deposit accounts consumers previously closed. The resolution disapproves the CFPB rule that would remove that circular, leaving Circular 2023-02 in effect.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keep protections for reopened bank accounts
If enacted, this bill would disapprove a CFPB rule that would withdraw Consumer Financial Protection Circular 2023-02 (Reopening Deposit Accounts That Consumers Previously Closed). The disapproved CFPB rule (90 Fed. Reg. 20084, May 12, 2025) would be declared to have no force or effect, leaving Circular 2023-02 (88 Fed. Reg. 33545, May 24, 2023) in place. If passed, consumers who previously closed deposit accounts would continue to be covered by the Circular's reopening protections. Banks and other depository institutions would still need to follow those protections. The resolution does not create new payments, taxes, or programs; it only nullifies the specific CFPB withdrawal rule.
Sponsors & CoSponsors
Sponsor
Meeks, Gregory W. [D-NY-5]
NY • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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