Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Bill: 119-hjres-59
Sponsor: full_name: Rep. Hill, J. French [R-AR-2]
Introduced: 2025-02-13
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Bank accounts, deposits, capital

Banking and financial institutions regulation

Congressional oversight

Consumer Financial Protection Bureau

User charges and fees
Latest action: action_date: 2025-03-21
text: Placed on the Union Calendar, Calendar No. 16.

Summaries:
action_date: 2025-02-13
action_desc: Introduced in House
text: <p>This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled <em>Overdraft Lending: Very Large Financial Institutions</em> 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&nbsp;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.</p>

tv_txt: IB Union Calendar No. 16 119th CONGRESS 1st Session H. J. RES. 59 [Report No. 119–26] IN THE HOUSE OF REPRESENTATIVES February 13, 2025 Mr. Hill of Arkansas (for himself, Mr. Meuser , Mr. Ogles , Mrs. Wagner , Mr. Huizenga , Mr. Timmons , Mr. Moore of North Carolina , Mr. Haridopolos , Mr. Barr , Mr. Williams of Texas , Mr. Donalds , Ms. Salazar , Mr. Downing , Mr. Norman , and Mr. Grothman ) submitted the following joint resolution; which was referred to the Committee on Financial Services March 21, 2025 Additional sponsors: Mr. Ezell , Mr. Loudermilk , and Mr. Johnson of South Dakota March 21, 2025 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed JOINT RESOLUTION Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to Overdraft Lending: Very Large Financial Institutions .

That Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to Overdraft Lending: Very Large Financial Institutions (89 Fed. Reg. 106768 (December 30, 2024)), and such rule shall have no force or effect.

March 21, 2025 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: IA 119th CONGRESS 1st Session H. J. RES. 59 IN THE HOUSE OF REPRESENTATIVES February 13, 2025 Mr. Hill of Arkansas (for himself, Mr. Meuser , Mr. Ogles , Mrs. Wagner , Mr. Huizenga , Mr. Timmons , Mr. Moore of North Carolina , Mr. Haridopolos , Mr. Barr , Mr. Williams of Texas , Mr. Donalds , Ms. Salazar , Mr. Downing , Mr. Norman , and Mr. Grothman ) submitted the following joint resolution; which was referred to the Committee on Financial Services JOINT RESOLUTION Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to Overdraft Lending: Very Large Financial Institutions .

That Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to Overdraft Lending: Very Large Financial Institutions (89 Fed. Reg. 106768 (December 30, 2024)), and such rule shall have no force or effect.