119th Congress · Senate

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Subjects: Administrative law and regulatory procedures · Bank accounts, deposits, capital · Banking and financial institutions regulation · Congressional oversight · Consumer Financial Protection Bureau · User charges and fees · Finance and Financial Sector

In plain language

Senate joint resolution in the 119th Congress.
Nullifies the final rule issued by the Consumer Financial Protection Bureau titled Overdraft Lending: Very Large Financial Institutions.
Senate passed it on Mar 27, 2025 (substantive).

Official summary (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.

View this measure on congress.gov

Roll-call votes on this measure

proceduralMar 27, 2025 · Senate · Motion to Proceed Agreed to
On the Motion to Proceed — Motion to Proceed to S.J.Res. 18
substantiveMar 27, 2025 · Senate · Joint Resolution Passed
On the Joint Resolution — S.J.Res. 18
substantiveApr 9, 2025 · House · Passed
On Passage — S J RES 18 — Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions”