LINKED BILL
S.J.Res. 18 — A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".Finance and financial sectorENACTED
CRS SUMMARY PREVIEW
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.
VOTE VISUALIZATION
D — YEA
D — NAY
R — YEA
R — NAY
NOT VOTING
PARTY BREAKDOWN
Democratic100% unity
Yea: 0Nay: 44NV: 1
Republican98% unity
Yea: 52Nay: 1
Independent100% unity
Yea: 0Nay: 2
ALL VOTES (100)
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