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The House voted 217-211 to pass a resolution that cancels a new federal regulation intended to limit overdraft fees at large banks. The measure passed narrowly along party lines and subsequently became law.
This vote was on a "joint resolution of disapproval" targeting a specific rule from the Consumer Financial Protection Bureau (CFPB). The rule, titled "Overdraft Lending: Very Large Financial Institutions," aimed to restrict how much the nation's biggest banks could charge customers for overdrafts. By passing this resolution, Congress used its authority to stop the regulation from taking effect. In the House, a "Vote on Passage" is the final step for a bill or resolution in that chamber. Because this measure was brought under the Congressional Review Act, passing it in both the House and Senate and receiving the President's signature (or overriding a veto) permanently kills the regulation and prevents the agency from issuing a "substantially similar" rule in the future. The resolution passed in a very close 217-211 vote, with Republicans almost entirely in favor and Democrats almost entirely opposed. Since the measure became law, the CFPB's attempt to lower overdraft fees has been stopped, allowing large banks to maintain their current fee structures and policies.
As this measure has since become law (Public Law 119-10), the CFPB regulation is officially void and will not take effect.
OPEN BILL →Why it matters. This vote determines whether the federal government can cap overdraft fees, which are a major source of revenue for banks and a significant cost for many consumers.
Who’s affected. Consumers with bank accounts: They will likely continue to pay higher overdraft fees than they would have under the blocked rule. · Very Large Financial Institutions: They avoid new restrictions on their fee revenue and do not have to change their current overdraft lending policies.
Democrats. Almost the entire caucus voted against the resolution, supporting the CFPB's effort to limit bank fees.
Republicans. The caucus voted unanimously in favor (among those present), seeking to prevent new government regulations on banking practices.
On Passage
Apr 9, 2025
The House voted 217-211 to pass a resolution that cancels a new federal regulation intended to limit overdraft fees at large banks.
The measure passed narrowly along party lines and subsequently became law.
This is a vote under the Congressional Review Act, which allows Congress to overturn specific regulations from federal agencies. If both chambers pass the resolution and it is signed by the President, the regulation is voided and the agency is generally barred from issuing a similar rule in the future.
As this measure has since become law (Public Law 119-10), the CFPB regulation is officially void and will not take effect.
This vote determines whether the federal government can cap overdraft fees, which are a major source of revenue for banks and a significant cost for many consumers.
The vote was strictly split along party lines, with nearly all Republicans supporting the move to block the regulation and nearly all Democrats voting to keep the regulation in place.
Almost the entire caucus voted against the resolution, supporting the CFPB's effort to limit bank fees.
The caucus voted unanimously in favor (among those present), seeking to prevent new government regulations on banking practices.
The single independent member voted yes, joining the Republican majority.