S.J.Res. 147 — 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 "Statement of Policy Regarding Prohibition on Abusive Acts or Practices".

S.J.Res. 147 — 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 "Statement of Policy Regarding Prohibition on Abusive Acts or Practices". | JustPolicyThe purpose of this legislative text is to allow Congress to disapprove a rule that was put forth by the Bureau of Consumer Financial Protection (CFPB). This rule involved the withdrawal of a previous policy that aimed to prohibit abusive acts or practices in consumer financial services. Essentially, Congress is taking action to maintain the protections that were previously in place against abusive practices in the financial sector. The key provision of this resolution is that it formally disapproves the CFPB's decision to withdraw the policy regarding abusive acts or practices.