Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
The summary
What this bill does
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Overdraft Lending: Very Large Financial Institutions and published on December 30, 2024. The rule revises provisions regarding charges for insufficient funds in a customer’s bank account (i.e., overdrafts) at very large financial institutions. Under the rule, these institutions must (1) cap overdraft charges at $5; (2) with justification, cap charges at a higher amount; or (3) handle overdrafts as credit and comply with applicable Truth in Lending Act disclosure requirements.
Legislative timeline
From introduction
Feb 13, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - AR District 2 · R-AR
17 cosponsors
U.S. Representative - PA District 9 · R-PA
U.S. Representative - TN District 5 · R-TN
U.S. Representative - MO District 2 · R-MO
U.S. Representative - MI District 4 · R-MI
Member of Congress · R-SC
Member of Congress · R-NC
U.S. Representative - FL District 8 · R-FL
U.S. Representative - KY District 6 · R-KY
U.S. Representative - TX District 25 · R-TX
U.S. Representative - FL District 19 · R-FL
U.S. Representative - FL District 27 · R-FL
U.S. Representative - MT District 2 · R-MT
+ 5 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 119 |
| Bill Type | HJRES |
| Bill Number | 59 |
| Origin Chamber | House |
| Current Status | Placed on the Union Calendar, Calendar No. 16. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | February 13, 2025 |
| Latest Action | March 21, 2025 |
| Cosponsors | 17 · House vote — · — views |