119th Congress
H.J.Res. 59
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- J. French Hill(R-AR)
- Introduced
- Feb 13, 2025
- Policy area
- Finance and Financial Sector
- Committees
- House Committee on Financial Services
- Official text
- Reported in House · Congress.gov page
Cosponsors (17)
Original cosponsors (14)
- Andrew Ogles (R-TN)
- Andy Barr (R-KY)
- Ann Wagner (R-MO)
- Bill Huizenga (R-MI)
- Byron Donalds (R-FL)
- Daniel Meuser (R-PA)
- Glenn Grothman (R-WI)
- Maria Elvira Salazar (R-FL)
- Mike Haridopolos (R-FL)
- Ralph Norman (R-SC)
- Roger Williams (R-TX)
- Tim Moore (R-NC)
- Troy Downing (R-MT)
- William R. Timmons IV (R-SC)
Added later (3)
- Barry Loudermilk (R-GA) · Feb 21, 2025
- Mike Ezell (R-MS) · Feb 21, 2025
- Dusty Johnson (R-SD) · Mar 14, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Mar 21, 2025 · House
Placed on the Union Calendar, Calendar No. 16. - Mar 21, 2025 · House
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 · House
Referred to the House Committee on Financial Services. - Feb 13, 2025
Introduced in House