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 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer".
Sponsored by Torres, Ritchie (Democrat-NY-15) · House · Introduced May 4, 2026
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Plain-English Summary (AI-assisted)
This bill uses a congressional disapproval process to block the Consumer Financial Protection Bureau (CFPB) from withdrawing guidance about deceptive marketing practices related to money transfer services. The bill would keep the CFPB's 2024-02 guidance in effect, which requires companies to be honest about how fast and how much it costs to send remittance transfers (money sent to family or friends abroad).
Legislative Status Timeline
Introduced
May 4, 2026
In Committee
May 4, 2026
Passed House
Pending
Passed Senate
Pending
Presidential Action
Pending
Sponsor
Torres, Ritchie
Independent · NY-15
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