This joint resolution nullifies the rule finalized by the Consumer Financial Protection Bureau on November 22, 2016, relating to prepaid accounts under the Electronic Fund Transfer Act and the Truth in Lending Act. The rule establishes various consumer protections with respect to prepaid accounts.
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 62 Introduced in House (IH)]
<DOC>
115th CONGRESS
1st Session
H. J. RES. 62
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 prepaid accounts under the Electronic
Fund Transfer Act and the Truth in Lending Act.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 3, 2017
Mr. Graves of Georgia (for himself, Mr. Loudermilk, and Mr. Huizenga)
submitted the following joint resolution; which was referred to the
Committee on Financial Services
_______________________________________________________________________
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 prepaid accounts under the Electronic
Fund Transfer Act and the Truth in Lending Act.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That Congress disapproves the
rule submitted by the Bureau of Consumer Financial Protection relating
to prepaid accounts under the Electronic Fund Transfer Act (15 U.S.C.
1693 et seq.) and the Truth in Lending Act (15 U.S.C. 1601 et seq.) (81
Fed. Reg. 83934 (November 22, 2016)), and such rule shall have no force
or effect.
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Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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