Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
On calendar: it can still change before the session ends.
- Stage
- On calendar
- Started in
- House
- Sponsors
- 18
- Latest action
- Mar 21, 2025
What it 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.
Official summary · Introduced in House · Feb 13, 2025
Titles and provisions can change as the bill moves.
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Introduced (Done)
Committee (Current step)
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Who is involved
Sponsors
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While a bill can still move, the questions are about people and money.