A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
S.J.Res. 18119th CongressFinance and Financial Sector
- Introduced
- Feb 13, 2025
- Latest action
- Became Public Law 119-10
- May 9, 2025
Recorded votes
Bills often get several votes: on amendments, procedural motions, and final passage. Open one to see how every member voted.
houseS.J.Res. 18
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".Final passagePassed217–211senateS.J.Res. 18
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".Vote on the resolutionJoint Resolution Passed52–48senateS.J.Res. 18
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".Vote to start debateMotion to Proceed Agreed to52–47
Summary
Written by the nonpartisan Congressional Research Service.
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.