This joint resolution would reject a new Securities and Exchange Commission rule updating Regulation S-P, which governs how financial firms protect customer privacy and safeguard sensitive financial information. The resolution uses the Congressional Review Act, a legislative process that allows Congress to overturn federal regulations within a set timeframe. If passed, the SEC's updated privacy and safeguarding rule published on June 3, 2024, would be voided and have no legal effect. The resolution was introduced by Representative Gary Palmer and referred to the House Financial Services Committee. No specific funding or implementation timeline is mentioned because the measure would prevent the rule from taking effect rather than establish a new program or policy.