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Financial Services Committee
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H.J.Res. 59In committee
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Introduced: Feb 13, 2025
Latest action date: Mar 21, 2025
Latest development
Placed on the Union Calendar, Calendar No. 16.
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- Congress
- 119th Congress
- Introduced
- Feb 13, 2025
- Recorded roll calls
- 0
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
What this bill 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 from Congress.gov.
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What this legislation is about
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
Official CRS policy area
Finance and Financial Sector
View 6 official legislative subjects
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauUser charges and fees
Committee activity
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
Official committee record ↗
Amendments
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Oct 16, 2026.
Action timeline
Newest action first. Action language comes from the official Congress.gov record.
View full action timeline8 actions
Reported by the Committee on Financial Services. H. Rept. 119-26.
CommitteeLibrary of CongressPlaced on the Union Calendar, Calendar No. 16.
CalendarsHouse floor actionsReported by the Committee on Financial Services. H. Rept. 119-26.
CommitteeHouse floor actionsCommittee Consideration and Mark-up Session Held
CommitteeHouse committee actionsOrdered to be Reported by the Yeas and Nays: 30 - 19.
CommitteeHouse committee actionsIntroduced in House
IntroReferralLibrary of CongressReferred to the House Committee on Financial Services.
IntroReferralHouse floor actionsIntroduced in House
IntroReferralLibrary of Congress
Roll-call votes
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