SJRES 153 – Joint Resolution of Congressional Disapproval
1. Purpose & Intent
SJRES 153 is a joint resolution that seeks to disapprove a rule submitted by the Bureau of Consumer Financial Protection (CFPB).
The rule in question was the withdrawal of the regulation that governed “Bulletin 2022‑06: Unfair Returned Deposited Item Fee Assessment Practices.” By disapproving this rule, Congress would effectively nullify the CFPB’s attempt to rescind that particular regulation, restoring the rule’s authority and preventing any new regulatory guidance from being adopted.
2. Key Provisions
| Element |
Detail |
| Rule targeted |
CFPB’s proposed withdrawal of Bulletin 2022‑06 (regulation codified at 87 Fed. Reg. 66940, November 7 2022; 90 Fed. Reg. 20084, May 12 2025). |
| Action requested |
Congressional disapproval under § 8 of Title 5, U.S. Code. |
| Effect if disapproved |
The rule would “have no force or effect,” leaving the original regulation in place. |
| Legal basis |
Chapter 8 of Title 5 allows Congress to object to post‑record regulatory amendments; the resolution applies that authority. |
3. Who is Affected
| Group |
Impact |
| Financial institutions |
Any that had begun to adjust practices in anticipation of the rule’s withdrawal will now continue to be subject to the original bulletin. |
| Depositors / consumers |
No change in fee assessment practices; the rules protecting against unfair fees remain enforced. |
| CFPB |
Must maintain the existing regulation; any future attempts to withdraw the rule require congressional approval. |
| Regulatory agencies |
The CFPB’s rule‑making authority is curtailed for this specific bulletin, reinforcing the need for compliance with the existing guidance. |
4. Procedural History & Timeline
| Date |
Action |
| March 26, 2026 |
Introduced in the Senate by Senator Luján. |
| March 26, 2026 |
Read twice and referred to the Senate Committee on Banking, Housing, & Urban Affairs. |
The resolution requires passage by both houses to be fully effective. Pending committee review, the next steps are a hearing, possible amendments, and a floor vote in each chamber.
5. Potential Impact
- Stability for existing practice: The resolution preserves the status‑quo regulation that banks had to follow, preventing abrupt changes in fee assessment procedures.
- Signal to the CFPB: It demonstrates congressional willingness to check CFPB’s rule‑making power at key junctures, potentially influencing future submissions.
- Consumer protection: By keeping the bulletin in force, consumers remain shielded from potentially unfair returned‑deposit item fees.
Bottom Line
SJRES 153 seeks to keep a specific CFPB regulation in place by disapproving the bureau’s attempt to withdraw it. If enacted, the rule will have no effect, preserving current protections for consumers and maintaining regulatory clarity for financial institutions.
