Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
This bill has not become law. Status shown reflects the latest official action.
See what this could mean for your district
Save your district in Account to view district-specific context for this bill.
Bill details
Summary
Introduced in House
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.
District impact notes
This joint resolution seeks to nullify a rule that regulates overdraft lending practices at very large financial institutions. • Changes to overdraft fee regulations could impact how local banks manage fees for customers with insufficient funds. • The resolution may influence consumer protection measures that affect residents' financial well-being and access to banking services. • There may be questions about how eliminating the rule could affect the balance between consumer protection and the financial stability of large banks. AI-generated from official bill summary and plain-English note; verify with official text.
Related votes
Roll calls that reference this bill in official data.
Primary sources
Official links to verify details. (No interpretation.)
About this data
- OurCongress is non-partisan by design. We do not add political interpretation or advocacy.
- Bill data and official summaries come from GovInfo and Congress.gov. Some bills do not have published summaries yet.
- District impact notes (when shown) are AI-generated from official bill metadata/summaries to improve readability. They are not official government language.
- This page updates automatically via a daily ingestion pipeline.