Overdraft Protection Act of 2017

Summary

Overdraft Protection Act of 2017 This bill amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts in connection with overdraft coverage. Each depository institution that offers overdraft coverage for accounts must disclose overdraft coverage fees. It must also disclose that: the consumer's transaction may be declined if there are insufficient funds in the related transaction account, and the consumer will not be charged a fee if such transaction is declined. A depository institution must provide certain other disclosures regarding its overdraft protection program, including prompt notification of the account's overdraft status. The bill limits the number of overdraft fees a consumer may be charged each month and year, and provides that such fees must be reasonable. The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction. The bill also prohibits a depository institution from: charging a non-sufficient fund fee for any debit card transaction, or reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 28 July 2017

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 28 July 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 July 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 July 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 July 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 July 2017

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 28 July 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Maloney, Carolyn B. [D-NY-12] · D · Sponsor
• Rep. Ellison, Keith [D-MN-5] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Cosponsor
• Rep. Jeffries, Hakeem S. [D-NY-8] · D · Cosponsor
• Rep. Capuano, Michael E. [D-MA-8] · D · Cosponsor
• Rep. Moore, Gwen [D-WI-4] · D · Cosponsor
• Rep. Foster, Bill [D-IL-11] · D · Cosponsor
• Rep. Sherman, Brad [D-CA-32] · D · Cosponsor
• Rep. DeSaulnier, Mark [D-CA-10] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to → Overdraft Protection Act of 2019
• related to ← Stop Overdraft Profiteering Act of 2018
• related to ← Overdraft Protection Act of 2016