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.

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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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