Bills · HJRES 59
REPORTED· 119TH CONGRESS
House Joint Res.HJRES 59Consumer Financial Protection BureauUser charges and fees
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
INTRO FEB 13· LAST ACTION MAR 21
READING
1MIN
COSPONSORS
17
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Reported, not passed
LEGISLATIVE PROGRESS
STEP 3 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it decides whether a new federal regulation on overdrafts at major banks goes into effect. If the bill passes, it blocks the Bureau of Consumer Financial Protection from making specific changes to how major banks offer and charge for services when people overdraw their accounts, meaning current practices will continue.
If this bill does not pass, then the CFPB's rule regarding overdraft lending at very large financial institutions would likely become active. This could potentially change how these banks handle and charge for overdraft services, impacting both bank operations and consumer costs related to overdrawn accounts.
KEY PROVISIONS
2AI-extractedPROVISION 01
Congress rejects a specific rule issued by the Bureau of Consumer Financial Protection (CFPB) regarding overdraft lending at very large banks.
This prevents new federal regulations on overdraft practices by major financial institutions from taking effect.
PROVISION 02
The CFPB's rule, titled "Overdraft Lending: Very Large Financial Institutions" and published on December 30, 2024, is declared to have no legal power or effect.
This ensures that the existing practices and fee structures for overdrafts at very large banks, not modified by this specific CFPB rule, will continue.
SPONSORSHIP
1 + 17
R· Arkansas
YRS IN OFFICE
11
BILLS LED
33
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 17 IND 0
ACTION TIMELINE
6 EVENTSMAR 21
Reported by the Committee on Financial Services. H. Rept. 119-26.
MAR 21
Placed on the Union Calendar, Calendar No. 16.
MAR 5
Committee Consideration and Mark-up Session Held
MAR 5
Ordered to be Reported by the Yeas and Nays: 30 - 19.
BILL INFO
TypeHouse Joint Resolution
NumberHJRES 59
Congress119th
StatusReported
IntroducedFeb 13, 2025
Last actionMar 21, 2025
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REPORTED· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED FEB 13, 2025
House Joint Res.HJRES 59Consumer Financial Protection BureauUser charges and fees
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
INTRODUCED FEB 13, 2025· LAST ACTION MAR 21, 2025
PASSAGE CHANCES
—%
READING
1 min
COSPONSORS
17
COMPLEXITY
Moderate
