Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Sponsored byRep. Hill, J. French [R-AR-2]AR· Introduced 13 février 2025

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Placed on the Union Calendar, Calendar No. 16.

21 mars 2025·1 year ago

Summary

Introduced in House · Updated 9 juin 2025

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.

Timeline

8 actions

Placed on the Union Calendar, Calendar No. 16.
21 mars 2025 · Calendars
Reported by the Committee on Financial Services. H. Rept. 119-26.
21 mars 2025 · Committee
Reported by the Committee on Financial Services. H. Rept. 119-26.
21 mars 2025 · Committee
Committee Consideration and Mark-up Session Held
5 mars 2025 · Committee
Ordered to be Reported by the Yeas and Nays: 30 - 19.
5 mars 2025 · Committee
Referred to the House Committee on Financial Services.
13 février 2025 · IntroReferral
Introduced in House
13 février 2025 · IntroReferral
Introduced in House
13 février 2025 · IntroReferral

Sponsorship

17 cosponsors

Sponsor

Rep. Hill, J. French [R-AR-2]AR

Cosponsors

Republican17100%

Republican:Rep. Johnson, Dusty [R-SD-At Large]SD
Republican:Rep. Ezell, Mike [R-MS-4]MS
Republican:Rep. Loudermilk, Barry [R-GA-11]GA
Republican:Rep. Wagner, Ann [R-MO-2]MO
Republican:Rep. Timmons, William R. [R-SC-4]SC
Republican:Rep. Williams, Roger [R-TX-25]TX
Republican:Rep. Grothman, Glenn [R-WI-6]WI
Republican:Rep. Moore, Tim [R-NC-14]NC
Republican:Rep. Barr, Andy [R-KY-6]KY
Republican:Rep. Salazar, Maria Elvira [R-FL-27]FL
Republican:Rep. Donalds, Byron [R-FL-19]FL
Republican:Rep. Haridopolos, Mike [R-FL-8]FL
Republican:Rep. Meuser, Daniel [R-PA-9]PA
Republican:Rep. Downing, Troy [R-MT-2]MT
Republican:Rep. Ogles, Andrew [R-TN-5]TN
Republican:Rep. Huizenga, Bill [R-MI-4]MI
Republican:Rep. Norman, Ralph [R-SC-5]SC

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauUser charges and fees

Committees

Reports

H. Rept. 119-26

Cosponsor momentum

Cumulative over time

Track Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions". as it moves through Congress