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 2024-04: Whistleblower Protections Under CFPA Section 1057"

Progress

Timeline

• Mar 19Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

This joint resolution would overturn a rule by the Consumer Financial Protection Bureau (CFPB) regarding whistleblower protections. **What it does:** Uses Congress's authority to disapprove and cancel federal agency rules. Specifically targets the CFPB's withdrawal of guidance that protected employees who report wrongdoing in financial companies. **Who it affects:** - Employees of banks, credit unions, and other financial institutions - Consumers who rely on whistleblowers to expose financial misconduct - The CFPB's ability to enforce consumer protection laws **What would change:** If passed, this would restore the CFPB's previous whistleblower protection guidance, making it easier for financial industry employees to report violations without fear of retaliation. This could lead to more reports of consumer financial abuses. **Current status:** The resolution is in committee and has not been voted on. It would need approval from both chambers of Congress and could face a presidential veto.

How This Affects You