HJRES 59
119th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Congressional oversight
Consumer Financial Protection Bureau
User charges and fees
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Introduced: February 13, 2025
Introduced by:
Hill, J. French
Republican
· Arkansas
See on congress.gov
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 21, 2025
Placed on the Union Calendar, Calendar No. 16.
Mar 21, 2025
Reported by the Committee on Financial Services. H. Rept. 119-26.
Mar 5, 2025
Ordered to be Reported by the Yeas and Nays: 30 - 19.
Mar 5, 2025
Committee Consideration and Mark-up Session Held
Feb 13, 2025
Introduced in House
Feb 13, 2025
Referred to the House Committee on Financial Services.
Plain-English 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.
What's happening now
Placed on the Union Calendar, Calendar No. 16.
Committees of jurisdiction
1