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Bill > HJRes59
US HJRes59
US HJRes59Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
summary
Introduced
02/13/2025
02/13/2025
In Committee
03/05/2025
03/05/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
AI Summary
This joint resolution aims to nullify a rule proposed by the Bureau of Consumer Financial Protection (CFPB) concerning overdraft lending practices at very large financial institutions. The resolution specifically targets a rule published in the Federal Register on December 30, 2024, and declares that the rule shall have no legal standing or effect. Overdraft lending occurs when a bank allows a customer to withdraw more money than is available in their account, typically charging a fee for this service. By disapproving the CFPB's rule, Congress is effectively blocking the regulatory agency's attempt to implement new guidelines or restrictions on how large financial institutions manage and charge for overdraft services. This type of congressional action is authorized under the Congressional Review Act, which allows Congress to review and potentially overturn federal regulations issued by executive branch agencies.
Committee Categories
Business and Industry
Sponsors (18)
French Hill (R)*,
Andy Barr (R),
Byron Donalds (R),
Troy Downing (R),
Mike Ezell (R),
Glenn Grothman (R),
Mike Haridopolos (R),
Bill Huizenga (R),
Dusty Johnson (R),
Barry Loudermilk (R),
Dan Meuser (R),
Tim Moore (R),
Ralph Norman (R),
Andy Ogles (R),
María Salazar (R),
William Timmons (R),
Ann Wagner (R),
Roger Williams (R),
Last Action
Placed on the Union Calendar, Calendar No. 16. (on 03/21/2025)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-joint-resolution/59/all-info |
| BillText | https://www.congress.gov/119/bills/hjres59/BILLS-119hjres59rh.pdf |
| BillText | https://www.congress.gov/119/bills/hjres59/BILLS-119hjres59ih.pdf |
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