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SJRES 70 118th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Congressional oversight Consumer Financial Protection Bureau Financial services and investments User charges and fees

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit…

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A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".

Introduced: April 8, 2024 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 8, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 8, 2024
Introduced in Senate
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 Plain-English summary Congressional Research Service

This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Credit Card Penalty Fees (Regulation Z) and published on March 15, 2024. The rule lowers the safe-harbor cap on certain credit card late fees. In particular, late fees allowed under safe-harbor provisions must be capped at $8 when charged by a large credit card issuer. This cap is not subject to annual adjustment to reflect inflation. 

What's happening now April 8, 2024

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 2
  • HJRES 121 Identical bill Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bu…
  • HJRES 122 Identical bill Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bu…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 14
All 14 Republican 14
R
Lee, Mike
Utah · Apr 18, 2024
 R
Tuberville, Tommy
Alabama · Apr 18, 2024
 R
Barrasso, John
Wyoming · Apr 8, 2024
 R
Blackburn, Marsha
Tennessee · Apr 8, 2024
 R
Boozman, John
Arkansas · Apr 8, 2024
 R
Britt, Katie Boyd
Alabama · Apr 8, 2024
 R
Budd, Ted
North Carolina · Apr 8, 2024
 R
Cramer, Kevin
North Dakota · Apr 8, 2024
 R
Daines, Steve
Montana · Apr 8, 2024
 R
Hagerty, Bill
Tennessee · Apr 8, 2024
 R
Moran, Jerry
Kansas · Apr 8, 2024
 R
Rounds, Mike
South Dakota · Apr 8, 2024
 R
Thune, John
South Dakota · Apr 8, 2024
 R
Tillis, Thomas
North Carolina · Apr 8, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S.J. Res. 70: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".. 118th Congress. Open America. https://openamerica.io/bill/118-SJRES-70/
MLA
"S.J. Res. 70: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-SJRES-70/.
Bluebook (legal)
S.J. Res. 70, 118th Cong. (2026), https://openamerica.io/bill/118-SJRES-70/.
Markdown link
[S.J. Res. 70: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".](https://openamerica.io/bill/118-SJRES-70/)
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