H.J.Res. 59 was reported by committee and awaits a floor vote
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Written by the Congressional Research Service [2]. 85 words.
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.
- Committees
- House Financial Services Committee
- Policy area
- Finance and Financial Sector: 53 of 3,256 bills became law, 113th–118th (1.6%)
- Sponsor
- 7 of 132 bills enacted since 2013
- Text versions
- 2, from introduced in house to reported in house · 38 words
- Subjects
- Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauUser charges and fees
- Latest action
- Mar 21, 2025: Placed on the Union Calendar, Calendar No. 16.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 1 in all.
Identical or companion · 1
- 119th S.J.Res. 18 A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large R · Law