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".

Key Points

• This resolution aims to restore federal guidance that protects people from aggressive sales tactics at banks and other financial companies.
• The goal is to prevent employees from being pressured into opening fake accounts or selling unnecessary products just to earn bonuses.
• It would overturn a recent decision by the Consumer Financial Protection Bureau that stopped using these specific oversight rules.
• Supporters believe these rules are necessary to keep big banks from putting profits ahead of fair treatment for their customers.
• If it becomes law, the government would once again have a clear set of standards to check if a company's bonus structure is hurting consumers.

Impact Analysis

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