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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
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In committee
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Introduced
Feb 13, 2025
Latest action
Mar 21, 2025
Recorded roll calls
0
Civixly topics
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
Bill Summary
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.
Committee activity
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Official committee record ↗
Amendments
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No amendments are listed for this measure.
Checked against Congress.gov Sep 13, 2026.
Action timeline
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View full action timeline8 actions
Placed on the Union Calendar, Calendar No. 16.
CalendarsHouse floor actionsReported by the Committee on Financial Services. H. Rept. 119-26.
CommitteeHouse floor actionsReported by the Committee on Financial Services. H. Rept. 119-26.
CommitteeLibrary of CongressOrdered to be Reported by the Yeas and Nays: 30 - 19.
CommitteeHouse committee actionsCommittee Consideration and Mark-up Session Held
CommitteeHouse committee actionsReferred to the House Committee on Financial Services.
IntroReferralHouse floor actionsIntroduced in House
IntroReferralLibrary of CongressIntroduced in House
IntroReferralLibrary of Congress
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