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 "Procedures for Supervisory Designation Proceedings".
This joint resolution proposes congressional disapproval, under the Congressional Review Act, of a specific rule issued by the Bureau of Consumer Financial Protection (BCFP). The BCFP's rule, published in September 2025, was designed to withdraw a previous rule titled "Procedures for Supervisory Designation Proceedings." By passing this resolution, Congress intends to nullify the BCFP's attempt to eliminate these established procedures for supervisory designations. Consequently, if this resolution is enacted, the BCFP's withdrawal rule would have no legal force or effect, ensuring that the original "Procedures for Supervisory Designation Proceedings" remain in place and continue to govern the designation of certain nonbank financial companies for supervision.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 "Procedures for Supervisory Designation Proceedings".
USA119th CongressSJRES-178| Senate
| Updated: 4/13/2026
This joint resolution proposes congressional disapproval, under the Congressional Review Act, of a specific rule issued by the Bureau of Consumer Financial Protection (BCFP). The BCFP's rule, published in September 2025, was designed to withdraw a previous rule titled "Procedures for Supervisory Designation Proceedings." By passing this resolution, Congress intends to nullify the BCFP's attempt to eliminate these established procedures for supervisory designations. Consequently, if this resolution is enacted, the BCFP's withdrawal rule would have no legal force or effect, ensuring that the original "Procedures for Supervisory Designation Proceedings" remain in place and continue to govern the designation of certain nonbank financial companies for supervision.