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Public Law119th CongressFinance and Financial Sector
S.J.Res. 18Became Law

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

This bill became law

Filed
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Law

What it doesSummary public law (May 9, 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 happenedMay 9, 2025

Became Public Law No: 119-10.

Who’s behind it

Sen. Scott, Tim [R-SC](R-SC)Sponsor
16 cosponsors16 R
Read on Congress.gov
16cosponsors1committees30actions3related bills6subjects
  1. May 9, 2025PresidentE40000

    Became Public Law No: 119-10.

  2. May 9, 2025BecameLaw36000

    Became Public Law No: 119-10.

  3. May 9, 2025PresidentE30000

    Signed by President.

  4. May 9, 2025BecameLaw36000

    Signed by President.

  5. May 5, 2025FloorE20000

    Presented to President.

  6. May 5, 2025President28000

    Presented to President.

  7. Apr 9, 2025FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  8. Apr 9, 2025FloorH37100

    On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)

  9. Apr 9, 2025Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)

  10. Apr 9, 2025FloorH30000

    Considered as unfinished business. (consideration: CR H1533)

  11. Apr 9, 2025FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on S.J. Res. 18, the Chair put the question on passage of the joint resolution and by voice vote, announced that the ayes had prevailed. Mr. Hill (AR) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  12. Apr 9, 2025FloorH35000

    The previous question was ordered pursuant to the rule.

  13. Apr 9, 2025FloorH8D000

    DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.

  14. Apr 9, 2025FloorH8D000

    Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

  15. Apr 9, 2025FloorH30000

    Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)

  16. Apr 7, 2025FloorH1L210

    Rules Committee Resolution H. Res. 294 Reported to House. Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

  17. Apr 1, 2025FloorH1L210

    Rules Committee Resolution H. Res. 282 Reported to House. Rule provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18 and S.J. Res. 28. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28. The resolution also provides that H. Res. 23 and H. Res. 164 are laid on the table.

  18. Mar 31, 2025FloorH15000

    Held at the desk.

  19. Mar 31, 2025FloorH14000

    Received in the House.

  20. Mar 31, 2025Floor

    Message on Senate action sent to the House.

  21. Mar 27, 2025Floor

    Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)

  22. Mar 27, 2025Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.

  23. Mar 27, 2025Floor

    Considered by Senate. (consideration: CR S1879, S1884)

  24. Mar 26, 2025Floor

    Measure laid before Senate by motion. (consideration: CR S1864)

  25. Mar 26, 2025Floor

    Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.

  26. Mar 26, 2025Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.

  27. Mar 26, 2025Discharge

    Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

    Banking, Housing, and Urban Affairs Committee
  28. Mar 26, 2025Committee14500

    Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

    Banking, Housing, and Urban Affairs Committee
  29. Feb 13, 2025IntroReferral

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  30. Feb 13, 2025IntroReferral10000

    Introduced in Senate

Public LawMay 9, 202549

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.

Introduced in SenateFeb 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.

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Pro… — Informed