US Federal Senate Bill SJR153

US Federal 2025-2026 Regular Session

• Introduced: 3/26/26
• Refer: 3/26/26

Caption

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 "Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices".

Impact

If passed, SJR153 would effectively nullify the BCFP's rule withdrawal, thereby reinstating the provisions outlined in Bulletin 2022-06. This bulletin was intended to protect consumers from unfair practices associated with returned deposited item fees charged by banks and financial institutions. By disapproving the withdrawal, Congress aims to reinforce consumer protections in the financial sector, ensuring that fairness in fee assessments is maintained across financial institutions.

Summary

SJR153 is a joint resolution introduced in the U.S. Senate that aims to disapprove a specific rule from the Bureau of Consumer Financial Protection (BCFP). The resolution targets the withdrawal of what was previously known as 'Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices', which was set to regulate fee assessment practices regarding returned deposited items. The resolution reflects Congress's authority under chapter 8 of title 5, United States Code, to exercise oversight over federal regulatory actions.

Contention

The introduction of SJR153 may generate debate, as proponents argue that it is essential for consumer protection, ensuring that banks cannot impose excessive fees without transparent practices. Conversely, opponents of the resolution might argue that regulation could hinder financial institutions' operations and lead to unintended consequences such as increased overall fees for consumers. The discussions around SJR153 highlight the tension between regulatory oversight aimed at consumer protection and the desire for regulatory flexibility for financial institutions.