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 "Disclosure of Consumer Complaint Data".
Consumer Financial Protection: Public Access to Bank Complaint Data
This bill is currently in the early stages of the legislative process. It has been sent to the Senate Committee on Banking, Housing, and Urban Affairs for review. No further actions are scheduled at this time.
Part of: story →Legislative Progress
These types of resolutions are hard to pass unless one party has a strong majority and the president agrees to sign it.
Key Points
- This resolution aims to stop a recent change by the Consumer Financial Protection Bureau. That change would have hidden details about consumer complaints from the public.
- If this passes, the government would have to keep publishing information about complaints people file against banks and lenders. This includes complaints about credit cards, loans, and bank accounts.
- Supporters believe this data is important because it helps people see which companies have the most problems. It also helps hold financial companies accountable for how they treat their customers.
- This action uses a special power Congress has to cancel rules made by government agencies. If both the House and Senate agree, the agency plan to hide the data would be canceled.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
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
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 "Disclosure of Consumer Complaint Data".
Data Sources
Sponsor
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