HJRES 59 · introduced · significant
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
- economy
What this bill does
- This resolution cancels a Consumer Financial Protection Bureau rule that caps overdraft fees at $5 for large banks.
- The rule affected very large financial institutions and their customers who overdraft their accounts.
- If approved, the rule would be nullified, allowing banks to charge overdraft fees without the $5 cap.
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Community Threads
Started by Cosponsor
- 01
How would removing the $5 overdraft fee cap affect low-income consumers who rely on overdraft services versus large banks' revenue streams?
- 02
What evidence supports the CFPB's claim that a $5 cap is necessary, and how do banks justify higher fees as reasonable?
- 03
Which large financial institutions would benefit most from eliminating this fee cap, and what alternatives exist for consumers to avoid overdraft charges?
Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.
Sponsor · R-AR-2
J. French Hill
Citizen cosponsors
0
In Congress
17/ 435
House Reps cosponsoring
Introduced 2025-03-21
Joining the bill
Andy Barr
R-KY-6 · original
Byron Donalds
R-FL-19 · original
Troy Downing
R-MT-2 · original
William R. Timmons IV
R-SC-4 · original
Ann Wagner
R-MO-2 · original
Roger Williams
R-TX-25 · original
Glenn Grothman
R-WI-6 · original
Bill Huizenga
R-MI-4 · original
Mike Haridopolos
R-FL-8 · original
Daniel Meuser
R-PA-9 · original
Tim Moore
R-NC-14 · original
Ralph Norman
R-SC-5 · original
+ 5 more
Legislative timeline
2025-03-21 · house · Calendars
Placed on the Union Calendar, Calendar No. 16.
2025-03-21 · house · Committee
Reported by the Committee on Financial Services. H. Rept. 119-26.
2025-03-21 · Committee
Reported by the Committee on Financial Services. H. Rept. 119-26.
2025-03-05 · house · Committee
Ordered to be Reported by the Yeas and Nays: 30 - 19.
2025-03-05 · house · Committee
Committee Consideration and Mark-up Session Held
2025-02-13 · house · IntroReferral
Referred to the House Committee on Financial Services.
2025-02-13 · IntroReferral
Introduced in House
2025-02-13 · IntroReferral
Introduced in House
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