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".
Money Transfers: Blocking Changes to Marketing Rules
This bill is currently in the early stages of the legislative process after being introduced in the House. It has been sent to the House Committee on Financial Services for review. There are no upcoming votes scheduled at this time.
Legislative Progress
Resolutions to block agency rules rarely pass unless the majority party is united against the agency's action.
Key Points
- This plan would stop a government agency from canceling rules that protect people sending money to family in other countries. It wants to keep strict rules that stop companies from using dishonest ads.
- The rules help make sure companies do not lie about how fast a money transfer will get there or how much it will really cost. If these rules are removed, companies might hide fees or make false promises about delivery times.
- This matters to many families who rely on sending money across borders. By blocking the change, the government would keep the power to punish companies that trick their customers with misleading claims.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official 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".
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.