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SJRES18119th CongressWALLET

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

Sponsored By: Senator Scott, Tim [R-SC]

Became Law

Summary

Nullifies the CFPB's "Overdraft Lending: Very Large Financial Institutions" rule. This law removes that specific CFPB regulation and leaves pre-existing law and the Bureau's other authorities over overdraft lending unchanged.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Rule on big-bank overdraft fees blocked

The law blocks the Consumer Financial Protection Bureau’s overdraft rule for very large banks. The identified rule has no force or effect. Banks can keep current overdraft fees and account practices. Customers at very large banks keep current overdraft terms, not the rule’s changes. This takes effect upon enactment.

Sponsors & CoSponsors

Sponsor

Scott, Tim [R-SC]

SC • R

Cosponsors

  • Sen. Rounds, Mike [R-SD]

    SD • R

    Sponsored 2/13/2025

  • Sen. Hagerty, Bill [R-TN]

    TN • R

    Sponsored 2/13/2025

  • Sen. Crapo, Mike [R-ID]

    ID • R

    Sponsored 2/13/2025

  • Sen. Tillis, Thomas [R-NC]

    NC • R

    Sponsored 2/13/2025

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 2/13/2025

  • Sen. Britt, Katie Boyd [R-AL]

    AL • R

    Sponsored 2/13/2025

  • Sen. Moran, Jerry [R-KS]

    KS • R

    Sponsored 2/13/2025

  • Sen. Risch, James E. [R-ID]

    ID • R

    Sponsored 2/13/2025

  • Sen. Boozman, John [R-AR]

    AR • R

    Sponsored 2/13/2025

  • Sen. Wicker, Roger F. [R-MS]

    MS • R

    Sponsored 2/13/2025

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 2/13/2025

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 2/13/2025

  • Sen. Moreno, Bernie [R-OH]

    OH • R

    Sponsored 2/13/2025

  • Sen. Lee, Mike [R-UT]

    UT • R

    Sponsored 2/19/2025

  • Sen. Daines, Steve [R-MT]

    MT • R

    Sponsored 3/4/2025

  • Sen. Thune, John [R-SD]

    SD • R

    Sponsored 3/12/2025

Roll Call Votes

All Roll Calls

Yes: 321 • No: 306

house vote • 4/9/2025

On Passage

Yes: 217 • No: 211

senate vote • 3/27/2025

On the Joint Resolution S.J.Res. 18

Yes: 52 • No: 48

senate vote • 3/26/2025

On the Motion to Proceed S.J.Res. 18

Yes: 52 • No: 47

View on Congress.gov
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