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 "Limited Applicability of Consumer Financial Protection Act's 'Time or Space' Exception With Respect to Digital Marketing Providers".

What This Bill Does

This is a "disapproval resolution," which is a specific type of legislation Congress can use to cancel or reverse a rule created by a federal agency. In this case, Congress is voting to reject an action taken by the Consumer Financial Protection Bureau (CFPB). Specifically, the CFPB had previously withdrawn a rule about how digital marketing companies are regulated under federal consumer protection law — and this resolution would block that withdrawal, effectively trying to keep the original rule in place.

Background on the Underlying Issue

The original rule in question dealt with whether companies that provide digital marketing services (such as targeted online advertising) to banks and financial companies fall under the CFPB's oversight. The CFPB had argued these companies could be subject to its supervision, but later withdrew that position. This resolution disapproves of that withdrawal, meaning Congress would be pushing back on the CFPB's decision to step away from regulating digital marketers in this context.

Who Is Affected

This bill primarily affects digital marketing and advertising companies that work with banks, lenders, and other financial service providers, as well as the financial institutions that hire them. Consumers could also be indirectly affected, since the underlying debate is about whether there is federal oversight ensuring that targeted financial advertising meets consumer protection standards.

Where Things Stand

The resolution was introduced in the Senate and referred to the Banking, Housing, and Urban Affairs Committee. No further action has been taken yet, so it has not become law.