H.J.Res. 173, Consumer Protection via CRA Disapproval. Quorum's AI analysis reads it as a net benefit — and names who gains.
H.J.Res. 173 · Net good
What it does
This bill uses a Congressional Review Act procedure to block a CFPB rule that withdrew an earlier guidance (Circular 2023-02) requiring banks to reopen deposit accounts that customers had previously closed.
The analysis did not isolate a single beneficiary class.
The trade-off
If passed, the bill would restore the CFPB's Circular 2023-02 requirement, binding banks to reopen previously closed accounts absent documented cause, potentially increasing compliance costs for financial institutions.
Transparency scores 95%, with a low warning level and no detached riders.
Who is behind it
Filed by Gregory Meeks.
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