HJRES59Reported by Committee

Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-13
Introduced
17
Cosponsors
HJRES
ⓘ
Type

Sponsor

J. French Hill
J. French Hill
Republican · AR · Representative
Votes with party: 97.6% (665 recorded votes)
Top industries funding sponsor:
  • Crypto & Digital Assets$3,419k

Full profile: /officials/H001072

Source: Congress.gov · FEC

Cosponsors (17)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Placed on the Union Calendar, Calendar No. 16.

2025-03-21

Source: Congress.gov

Committee Activity

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Plain-English 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Affected Industries

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Finance & Banking

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Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.J. Res. 59 Reported in House (RH)] <DOC> Union Calendar No. 16 119th CONGRESS 1st Session H. J. RES. 59 [Report No. 119-26] Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ``Overdraft Lending: Very Large Financial Institutions''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 13, 2025 Mr. Hill of Arkansas (for himself, Mr. Meuser, Mr. Ogles, Mrs. Wagner, Mr. Huizenga, Mr. Timmons, Mr. Moore of North Carolina, Mr. Haridopolos, Mr. Barr, Mr. Williams of Texas, Mr. Donalds, Ms. Salazar, Mr. Downing, Mr. Norman, and Mr. Grothman) submitted the following joint resolution; which was referred to the Committee on Financial Services March 21, 2025 Additional sponsors: Mr. Ezell, Mr. Loudermilk, and Mr. Johnson of South Dakota March 21, 2025 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ JOINT RESOLUTION Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ``Overdraft Lending: Very Large Financial Institutions''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the final rule submitted by the Bureau of Consumer Financial Protection relating to ``Overdraft Lending: Very Large Financial Institutions'' (89 Fed. Reg. 106768 (December 30, 2024)), and such rule shall have no force or effect. Union Calendar No. 16 119th CONGRESS 1st Session H. J. RES. 59 [Report No. 119-26] _______________________________________________________________________ JOINT RESOLUTION Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ``Overdraft Lending: Very Large Financial Institutions''. _______________________________________________________________________ March 21, 2025 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed
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