A joint resolution 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 - SC · R-SC
16 cosponsors
U.S. Senator - South Dakota · R-SD
U.S. Representative - TN · R-TN
U.S. Representative - Idaho District 2 · R-ID
U.S. Representative - NC · R-NC
U.S. Representative - ND · R-ND
U.S. Representative - AL · R-AL
U.S. Representative - KS · R-KS
U.S. Representative - ID · R-ID
U.S. Representative - AR · R-AR
U.S. Representative - MS · R-MS
U.S. Representative - WY · R-WY
U.S. Representative - NE · R-NE
+ 4 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 | SJRES |
| Bill Number | 18 |
| Origin Chamber | Senate |
| Current Status | Became Public Law No: 119-10. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | February 13, 2025 |
| Latest Action | May 9, 2025 |
| Cosponsors | 16 · House vote — · — views |