PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 5691 (112th)

Overdraft Protection Act of 2012

referredUnited States· United States Congress· EN

Introduced

9 May 2012

Last action

1 June 2012 · Referred

Status

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Sponsors

CAROLYN MALONEY, Rep. Frank, Barney [D-MA-4], MICHAEL CAPUANO, Keith Ellison, LUIS GUTIERREZ, Rep. Moran, James P. [D-VA-8], Rep. Jackson, Jesse L., Jr. [D-IL-2], Rep. Richardson, Laura [D-CA-37], Sen. Van Hollen, Chris [D-MD], JOSE SERRANO, David Cicilline, Rep. Dingell, John D. [D-MI-16], Rep. Miller, Brad [D-NC-13], Rep. Rangel, Charles B. [D-NY-19], Rep. Chu, Judy [D-CA-28], Rep. Schakowsky, Janice D. [D-IL-9], Raúl Grijalva, Earl Blumenauer, Rep. Carson, André [D-IN-7], Rep. Hahn, Janice [D-CA-44], Marcy Kaptur, Rep. Nadler, Jerrold [D-NY-12], JOHN CONYERS, Bennie Thompson, Rep. Brown, Corrine [D-FL-5], ELIJAH CUMMINGS, Anna Eshoo, Rep. Gonzalez, Charles A. [D-TX-20], Del. Norton, Eleanor Holmes [D-DC-At Large], Barbara Lee, Rosa DeLauro, Frederica Wilson, Rep. Sanchez, Loretta [D-CA-46], Rep. Woolsey, Lynn C. [D-CA-6], NITA LOWEY, Rep. Towns, Edolphus [D-NY-11], Maxine Waters, Paul Tonko, BOBBY RUSH, Rep. Ackerman, Gary L. [D-NY-7], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Stark, Fortney Pete [D-CA-9], Rep. Holt, Rush [D-NJ-12], Rep. Pallone, Frank [D-NJ-6], Niki Tsongas, XAVIER BECERRA, Karen Bass, Rep. Miller, George [D-CA-7]

Subjects

Discovery layer

Source updated

14 August 2025

Official sourceDownload fileView documentsShare

Summary

Overdraft Protection Act of 2012 - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Requires each depository institution that provides overdraft coverage for transaction accounts clearly and conspicuously to disclose overdraft coverage fees and that, if a consumer does not opt-in to such overdraft coverage: (1) the consumer's transaction may be declined if there are insufficient funds in the related transaction account, and (2) the consumer will not be charged a fee if such transaction is declined. Subjects to the consumer's written, electronic, or other consent overdraft coverage fees in connection with use of an automatic teller machine (ATM) or point of sale transaction. Requires a depository institution to provide specified consumer disclosures regarding its overdraft protection program, including: (1) periodic statements for any transaction account that has an overdraft coverage program feature, (2) prompt notification of the account's overdraft status, and (3) the overdraft coverage fee as an annual percentage rate (APR), permitting consumers to compare meaningfully the overdraft coverage to alternative forms of overdraft options and other sources of credit. Prescribes overdraft coverage fee limits. Prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction. Requires a depository institution to provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program. Prohibits a depository institution from charging a non-sufficient fund fee for any ATM or debit card transaction. Prohibits a depository institution from 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. Directs the Consumer Financial Protection Bureau (CFPB) to study whether consumers are being subjected to abusive practices with respect to prepaid card overdraft coverage.

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

Timeline

  1. 9 May 2012

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 9 May 2012

    Introduced

    Sponsor introductory remarks on measure. (CR E752)

    Source: IntroReferral

  3. 9 May 2012

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 9 May 2012

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 1 June 2012

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Showing 48 of 52 sponsors and actors.

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.