H.J.Res. 59 · 119th Congress
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft…
Full title
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
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HillSponsor17 cosponsors · 17 R
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Barr
BD
R
Donalds
TD
R
Downing
GG
R
Grothman
BH
R
Huizenga
MH
R
Haridopolos
DM
R
Meuser
TM
R
Moore
RN
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Norman
AO
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Ogles
MS
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Salazar
WT
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Timmons
AW
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Wagner
RW
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Williams
ME
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Ezell
BL
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Loudermilk
DJ
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Johnson14 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Feb 13, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Latest action (Mar 21, 2025): Placed on the Union Calendar, Calendar No. 16.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 13, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.