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HJRES175FEDERALin_committee

Resolution to Overturn CFPB Rule on Remittance Marketing

Original title: 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 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer".

May 4, 2026

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Where This Stands

Introduced
Committee
Floor Vote
Passed

Currently in_committee. The next step in the legislative lifecycle is Floor Vote.

Last action
Referred to the House Committee on Financial Services.May 4, 2026

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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The Frame

What this does

This resolution determines whether the CFPB can maintain its withdrawal of guidance that previously warned financial companies against misleading consumers about the speed and cost of international s.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Bureau of Consumer Financial Protection

The agency's regulatory action is being nullified by this resolution.

Financial institutions and remittance providers

These entities are subject to the marketing standards and guidance regarding the disclosure of transfer costs and speeds.

What changed

Current stage: in_committee.

What's next

Floor Vote.

Summary

This joint resolution seeks to nullify a recent Bureau of Consumer Financial Protection (CFPB) action that withdrew a previous circular regarding deceptive marketing practices for international money transfers. If passed, the CFPB's withdrawal of the circular would be invalidated, effectively restoring the original guidance on how companies must disclose the speed and cost of sending money abroad.

Key Facts

  • H.J. Res. 175 formally disapproves of a rule submitted by the Bureau of Consumer Financial Protection (CFPB).
  • The rule in question is the withdrawal of 'Consumer Financial Protection Circular 2024-02', which addressed deceptive marketing practices regarding remittance transfer speed and cost.
  • The original circular was published at 89 Fed. Reg. 27357 on April 17, 2024.
  • The CFPB's withdrawal of that circular was published at 90 Fed. Reg. 20084 on May 12, 2025.
  • If enacted, the resolution mandates that the CFPB's withdrawal rule shall have no force or effect.
  • The resolution is introduced under the authority of Chapter 8 of Title 5 of the United States Code, which allows Congress to review and overturn agency rules.

Why It Matters

This resolution determines whether the CFPB can maintain its withdrawal of guidance that previously warned financial companies against misleading consumers about the speed and cost of international s.

Frequently Asked Questions

What does this resolution actually do?
It uses the Congressional Review Act to invalidate a specific regulatory action taken by the CFPB, effectively reversing the agency's decision to withdraw guidance on remittance marketing.
What are remittance transfers?
These are electronic transfers of funds sent by consumers in the United States to individuals or businesses in foreign countries.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Lobbying Activity

60 Plus Association

2026

TAXATION/INTERNAL REVENUE CODEENVIRONMENT/SUPERFUNDCOPYRIGHT/PATENT/TRADEMARKHEALTH ISSUES

Signed a coalition letter opposing any efforts to raise the corporate tax rate above the 21% level set in the 2017 Tax Cuts and Jobs Act (TCJA). Signed a coalition in support of the Family Business Legacy Act, H.R. 6329. This legislation creates parity in the tax code between the estate and gift taxes by allowing an estate tax deduction for contributions to 501(c)(4), (c)(5), and (c)(6) organizations. Signed a coalition letter urging opposition to proposals that would raise taxes on carried interest investment income.The letter is urging Congress to reject the misnamed Carried Interest Fairness Act, legislation recently reintroduced by Senators Tammy Baldwin, Elizabeth Warren, Bernie Sanders, and other progressive members of Congress. This legislation that would increase the tax rate on carried interest investment by 70%, from 23.8% to 40.8%. Signed a coalition letter in support of H.R.574 - ALIGN Act and highlight the 100% bonus depreciation provision's importance as the tax cut reauthorization efforts continue. Signed a coalition to support of repealing IRA's green new deal subsidies in reconciliation to pay for tax cuts. Signed a coalition letter regarding digital services taxes (DST) in an effort to stop Canadas imposition of a discriminatory digital services tax (DST) on U.S. firms and your efforts to include restrictions on the imposition of DSTs and other unfair digital policies in recently announced trade agreements-providing a model for future trade negotiations. Signed a coalition letter urging the President to index capital gains for inflation.

ILLINOIS ASSOCIATION OF SCHOOL BOARDS

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Congressional Review Act Usage

The resolution demonstrates an attempt to use the Congressional Review Act to reverse a specific agency withdrawal of guidance, rather than a new regulation.

Connected Entities

personMr. Torres of New YorkThe House Representative who introduced the resolution.Map →
organizationBureau of Consumer Financial ProtectionThe federal agency responsible for the rule being challenged.Map →

Analysis Score

0–100
  • Significance60
    How much this matters to a regular citizen
  • Controversy50
    Intensity of disagreement among stakeholders
  • Entertainment10
    Compellingness for a non-policy-wonk reader
  • Buzz20
    Current news / social attention level

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