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Resolution · 119th Congress · HJRES 59
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Refreshed 4 h ago
Introduced 2025-02-13Topic: economy jobsSummary
Summary by the Congressional Research ServiceThis 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.
Sponsors
- J. French Hill Republican sponsor
- 17 cosponsors
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2025-03-21 | House | Placed on the Union Calendar, Calendar No. 16. | |
| 2025-03-21 | House | Reported by the Committee on Financial Services. H. Rept. 119-26. | report |
| 2025-03-21 | Reported by the Committee on Financial Services. H. Rept. 119-26. | report | |
| 2025-03-05 | House | Ordered to be Reported by the Yeas and Nays: 30 - 19. | refer |
| 2025-03-05 | House | Committee Consideration and Mark-up Session Held | refer |
| 2025-02-13 | House | Referred to the House Committee on Financial Services. | refer |
| 2025-02-13 | Introduced in House | introduce | |
| 2025-02-13 | Introduced in House | introduce |