# 114-hr-5198: Overdraft Protection Act of 2016

114-hr-5198, Overdraft Protection Act of 2016, is a 114th Congress bill sponsored by Rep. Maloney, Carolyn B. [D-NY-12] (D-NY); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-5198
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-5198
- Congress: 114
- Title: Overdraft Protection Act of 2016
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2016-05-11
- Sponsor: Rep. Maloney, Carolyn B. [D-NY-12] (D-NY)
- Cosponsors: 17
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Overdraft Protection Act of 2016 This bill amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Each depository institution that offers or provides overdraft coverage for transaction accounts held at the institution shall clearly and conspicuously disclose overdraft coverage fees. It must also disclose that, if a consumer does not opt-in to such overdraft coverage: the consumer's transaction may be declined if there are insufficient funds in the related transaction account, and the consumer will not be charged a fee if such transaction is declined. A depository institution may charge overdraft coverage fees in connection with use of an automatic teller machine (ATM) or point of sale transaction only if the consumer has consented in writing, in electronic form, or in another form permitted by the Consumer Financial Protection Bureau.A depository institution must provide specified consumer disclosures regarding its overdraft protection program, including: periodic statements for any transaction account that has an overdraft coverage program feature; prompt notification of the account's overdraft status; and the overdraft coverage fee as an annual percentage rate, permitting consumers to compare meaningfully the overdraft coverage to alternative forms of overdraft options and other sources of credit. The bill prescribes overdraft coverage fee limits. The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction. A depository institution shall provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program. The bill prohibits a depository institution from: charging a non-sufficient fund fee for any ATM or debit card transaction, or reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.

## Cosponsors (17)

- Rep. Blumenauer, Earl [D-OR-3] (D-OR), 2016-05-11T00:00:00.000Z
- Rep. Chu, Judy [D-CA-28] (D-CA), 2016-05-11T00:00:00.000Z
- STEVE ISRAEL (D-NY), 2016-05-11T00:00:00.000Z
- NITA LOWEY (D-NY), 2016-05-11T00:00:00.000Z
- Rep. McGovern, James P. [D-MA-2] (D-MA), 2016-05-11T00:00:00.000Z
- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2016-05-11T00:00:00.000Z
- Rep. Ryan, Tim [D-OH-13] (D-OH), 2016-05-11T00:00:00.000Z
- Rep. Schakowsky, Janice D. [D-IL-9] (D-IL), 2016-05-11T00:00:00.000Z
- JOSE SERRANO (D-NY), 2016-05-11T00:00:00.000Z
- LOUISE SLAUGHTER (D-NY), 2016-05-11T00:00:00.000Z
- Rep. Tsongas, Niki [D-MA-3] (D-MA), 2016-05-11T00:00:00.000Z
- Rep. Sherman, Brad [D-CA-32] (D-CA), 2016-05-11T00:00:00.000Z
- MICHAEL CAPUANO (D-MA), 2016-05-11T00:00:00.000Z
- Rep. Moore, Gwen [D-WI-4] (D-WI), 2016-05-11T00:00:00.000Z
- Rep. Ellison, Keith [D-MN-5] (D-MN), 2016-05-11T00:00:00.000Z
- Rep. Foster, Bill [D-IL-11] (D-IL), 2016-05-11T00:00:00.000Z
- Rep. Wasserman Schultz, Debbie [D-FL-25] (D-FL), 2016-07-14T00:00:00.000Z

## Related bills

- 114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika virus.
- 114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act
- 114-hr-3268: PAST Act
- 114-hr-3185: Equality Act
- 114-hr-2902: Safe Schools Improvement Act of 2015
- 114-hr-2867: Voting Rights Advancement Act of 2015

## Sources
- [114-hr-5198 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/5198)

## Related
- [114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika viru…](https://policyrisk.com/legislation/114-hr-5044)
- [114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act](https://policyrisk.com/legislation/114-hr-4592)
- [114-hr-3268: PAST Act](https://policyrisk.com/legislation/114-hr-3268)
- [114-hr-3185: Equality Act](https://policyrisk.com/legislation/114-hr-3185)
- [114-hr-2902: Safe Schools Improvement Act of 2015](https://policyrisk.com/legislation/114-hr-2902)
- [114-hr-2867: Voting Rights Advancement Act of 2015](https://policyrisk.com/legislation/114-hr-2867)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-5198 (as of 2025-11-18).