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 2022-04: Insufficient Data Protection or Security for Sensitive Consumer Information".

Summary

The joint resolution directs that the Consumer Financial Protection Bureau’s rule to withdraw Circular 2022‑04 on insufficient data protection be disapproved by Congress. By disapproving the rule, it will have no legal force or effect. This decision impacts the CFPB, financial institutions that follow its guidance, and ultimately consumers whose data protection standards would have changed.

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