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S.J.Res. 18 · 119th Congress

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Enacted

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Bill details

Introduced: 2/13/2025
Current status: Enacted
Introduced by: Tim Scott (R · SC)
Bill ID: 119sjres18
Latest official action: Became Public Law No: 119-10.

Bill overview

A neutral overview based on official congressional sources.

Public Law

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.

Source: BILLSUM · Summary date: 5/9/2025

Related votes

Roll calls that reference this bill in official data.

2 roll calls
Senate · 119 / 1 · Roll 153
On the Joint Resolution
Date: 3/27/2025Result: Joint Resolution Passed
Open vote →
Senate · 119 / 1 · Roll 152
On the Motion to Proceed
Date: 3/26/2025Result: Motion to Proceed Agreed to
Open vote →

Primary sources

Official links to verify details. No interpretation.

Congress.gov bill →OurCongress methodology →

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Last updated: 5/9/2025Source: BILLSUMBill: 119sjres18Learn more →