S.J.Res. 18 · 119th Congress · Finance and Financial Sector
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Overturns the Consumer Financial Protection Bureau's rule capping overdraft charges at large financial institutions. AI-read
What it does
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.
Summary by the Congressional Research Service, May 9, 2025 (Public Law). CRS summarizes bills impartially; it does not take positions.
Roll call votes
| Date | Question | Party split (yea) | Result |
|---|---|---|---|
| Mar 26, 2025 Senate roll 152 |
On the Motion to ProceedA joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions". | D 0–44 · R 52–1 · I 0–2 |
Passed 52–47 |
| Mar 27, 2025 Senate roll 153 |
On the Joint ResolutionA joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions". | D 0–45 · R 52–1 · I 0–2 |
Passed 52–48 |
| Apr 9, 2025 House roll 95 |
On PassageDisapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions” | D 0–210 · R 217–1 |
Passed 217–211 |
Latest action
May 9, 2025 · Became Public Law No: 119-10.