Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 13, 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.
What just happenedMar 21, 2025
Placed on the Union Calendar, Calendar No. 16.
Who’s behind it
- Reported in HouseMar 21, 2025
- Introduced in HouseFeb 13, 2025
- Mar 21, 2025CalendarsH12410
Placed on the Union Calendar, Calendar No. 16.
- Mar 21, 2025CommitteeH12200
Reported by the Committee on Financial Services. H. Rept. 119-26.
Financial Services Committee - Mar 21, 2025Committee5000
Reported by the Committee on Financial Services. H. Rept. 119-26.
Financial Services Committee - Mar 5, 2025Committee
Ordered to be Reported by the Yeas and Nays: 30 - 19.
Financial Services Committee - Mar 5, 2025Committee
Committee Consideration and Mark-up Session Held
Financial Services Committee - Feb 13, 2025IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Feb 13, 2025IntroReferralIntro-H
Introduced in House
- Feb 13, 2025IntroReferral1000
Introduced in House