H.J.Res. 59 · Where this bill is now
Became law through another bill
Its text was included in S.J.Res. 18, Public Law 119-10 (per the Congressional Research Service). This bill number itself: Waiting for a House vote.
See S.J.Res. 18 on Congress.gov ↗
What this bill does
In plain words · AI-written from the official summaryBlocks bank overdraft fee limits rule
This would cancel a Consumer Financial Protection Bureau rule that just came out about how the biggest banks can charge overdraft fees. The rule would have capped these fees at $5 per overdraft, with some exceptions if banks could justify a higher charge. It also would have required banks to treat some overdrafts as credit and disclose terms to customers.
How it affects you
If this passes, customers of very large banks could face higher overdraft charges again, since the $5 cap would go away. Smaller banks and credit unions would not be affected, as the rule applied only to the largest financial institutions.
Read the official summary (Introduced in House, Feb 13, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH.J.Res. 59
JOINT RESOLUTION
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Sponsor: Rep. J. French Hill (R-AR-2) · Introduced Feb 13, 2025 · Finance and Financial Sector · 2 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 21, 2025: “Placed on the Union Calendar, Calendar No. 16.”
Sections
The wording of this bill hasn’t changed across its 2 official versions.