S.J.Res. 178 — 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 "Procedures for Supervisory Designation Proceedings".

S.J.Res. 178 — 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 "Procedures for Supervisory Designation Proceedings". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a specific rule that was submitted by the Bureau of Consumer Financial Protection (BCFP). This rule involves the withdrawal of existing procedures that guide how the BCFP designates certain financial institutions for supervisory review. Essentially, it aims to prevent the removal of these procedures, which are important for overseeing financial institutions. Key provisions of this resolution include a formal disapproval of the BCFP's action to withdraw the rule concerning supervisory designation proceedings.