A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Summary

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.

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

Timeline

1. 13 February 2025

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 13 February 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 26 March 2025

   Vote

   Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.

   Source: Floor

4. 26 March 2025

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.

   Source: Calendars

5. 26 March 2025

   Discharge

   Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

   Source: Discharge

6. 26 March 2025

   Committee

   Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).

   Source: Committee

7. 27 March 2025

   Floor

   Considered by Senate. (consideration: CR S1879, S1884)

   Source: Floor

8. 27 March 2025

   Vote

   Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.

   Source: Floor

9. 31 March 2025

   Floor

   Held at the desk.

   Source: Floor

10. 31 March 2025

    Floor

    Received in the House.

    Source: Floor

11. 31 March 2025

    Floor

    Message on Senate action sent to the House.

    Source: Floor

12. 1 April 2025

    Reported

    Rules Committee Resolution H. Res. 282 Reported to House. Rule provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18 and S.J. Res. 28. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28. The resolution also provides that H. Res. 23 and H. Res. 164 are laid on the table.

    Source: Floor

13. 7 April 2025

    Reported

    Rules Committee Resolution H. Res. 294 Reported to House. Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

    Source: Floor

14. 9 April 2025

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

15. 9 April 2025

    Vote

    On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)

    Source: Floor

16. 9 April 2025

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)

    Source: Floor

17. 9 April 2025

    Floor

    Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)

    Source: Floor

18. 9 April 2025

    Floor

    Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

    Source: Floor

19. 9 April 2025

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

20. 5 May 2025

    Floor

    Presented to President.

    Source: Floor

21. 5 May 2025

    President

    Presented to President.

    Source: President

22. 9 May 2025

    Became law

    Became Public Law No: 119-10.

    Source: President

23. 9 May 2025

    President

    Signed by President.

    Source: President

24. 9 May 2025

    Became law

    Signed by President.

    Source: BecameLaw

Votes

Versions

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Documents

7 official files

• Enrolled Bill

  Enrolled Bill · EN

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• Public Law

  Public Law · EN · 10 May 2025

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• Public Law

  summary · EN · 9 May 2025

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• Engrossed in Senate

  Engrossed in Senate · EN · 27 March 2025

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• Placed on Calendar Senate

  Placed on Calendar Senate · EN · 26 March 2025

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• Introduced in Senate

  Introduced in Senate · EN · 13 February 2025

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• Introduced in Senate

  summary · EN · 13 February 2025

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Sponsors

• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Rounds, Mike [R-SD] · R · Sponsor
• Sen. Hagerty, Bill [R-TN] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Tillis, Thomas [R-NC] · R · Sponsor
• Sen. Cramer, Kevin [R-ND] · R · Sponsor
• Sen. Britt, Katie Boyd [R-AL] · R · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Risch, James E. [R-ID] · R · Sponsor
• Sen. Boozman, John [R-AR] · R · Sponsor
• Sen. Wicker, Roger F. [R-MS] · R · Sponsor
• Sen. Lummis, Cynthia M. [R-WY] · R · Sponsor
• Sen. Ricketts, Pete [R-NE] · R · Sponsor
• Sen. Moreno, Bernie [R-OH] · R · Sponsor
• Sen. Lee, Mike [R-UT] · R · Cosponsor
• Sen. Daines, Steve [R-MT] · R · Cosponsor
• Sen. Thune, John [R-SD] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
• related to ← Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions''; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ''Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications''; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.
• related to ← Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions"; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications"; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.

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