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 “Consumer Financial Protection Circular 2023-02: Reopening Deposit Accounts That Consumers Previously Closed”.
Key claim: S.J.Res. 143 would disapprove, under the Congressional Review Act, the CFPB rule withdrawing Circular 2023-02 on reopening deposit accounts that consumers previously closed.
Abstract
(SJRES143 · 119th Congress) Latest action (2026-03-25): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Why this matters
If enacted, S.J.Res. 143 would nullify the CFPB’s withdrawal of Circular 2023-02, restoring the guidance that unilaterally reopening a consumer’s closed deposit account to process incoming credits or debits can constitute an unfair act or practice. This matters to banks and consumers because it would revive supervisory exposure around ‘re-opened’ accounts that can trigger overdraft/maintenance fees, and it fits the broader pattern of CRA resolutions targeting the current CFPB’s rescissions of prior consumer-protection guidance.