HJRES 59 · Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Placed on the Union Calendar, Calendar No. 16.
- Introduced
- Feb 13, 2025
- Latest action
- Mar 21, 2025
- Sponsor
- Rep. J. French Hill [R-AR-2]
- Policy area
- Finance and Financial Sector
- Cosponsors
- 17
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.
Recent actions
- 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 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 Referred to the House Committee on Financial Services.
- Feb 13, 2025 Introduced in House
- Feb 13, 2025 Introduced in House
Votes
No recorded votes are available for this bill.