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SJRES 18 · enacted · significant

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

What this bill does

  • This resolution cancels a Consumer Financial Protection Bureau rule that caps overdraft fees at $5 for large banks.
  • The rule affects large financial institutions and their customers who overdraw bank accounts.
  • The resolution takes effect immediately upon passage and nullifies the December 2024 rule.

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Community Threads

Started by Cosponsor

  1. 01

    How might eliminating the $5 overdraft fee cap affect low-income and working-class customers who rely on overdraft protection?

  2. 02

    What evidence supports the argument that removing fee caps encourages large banks to compete on overdraft pricing rather than increase fees?

  3. 03

    Which financial institutions benefit most from this rule cancellation, and what alternatives exist for consumers seeking overdraft protection?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-SC

Tim Scott

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In Congress

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Senators cosponsoring

Introduced 2025-05-09

Joining the bill

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Legislative timeline

  1. 2025-05-09 · President

    Became Public Law No: 119-10.

  2. 2025-05-09 · BecameLaw

    Became Public Law No: 119-10.

  3. 2025-05-09 · President

    Signed by President.

  4. 2025-05-09 · BecameLaw

    Signed by President.

  5. 2025-05-05 · house · Floor

    Presented to President.

  6. 2025-05-05 · President

    Presented to President.

  7. 2025-04-09 · house · Floor

    Motion to reconsider laid on the table Agreed to without objection.

  8. 2025-04-09 · house · Floor

    On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)

  9. 2025-04-09 · Floor

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)

  10. 2025-04-09 · house · Floor

    Considered as unfinished business. (consideration: CR H1533)

  11. 2025-04-09 · house · Floor

    POSTPONED PROCEEDINGS - At the conclusion of debate on S.J. Res. 18, the Chair put the question on passage of the joint resolution and by voice vote, announced that the ayes had prevailed. Mr. Hill (AR) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  12. 2025-04-09 · house · Floor

    The previous question was ordered pursuant to the rule.

  13. 2025-04-09 · house · Floor

    DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.

  14. 2025-04-09 · house · Floor

    Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

  15. 2025-04-09 · house · Floor

    Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)

  16. 2025-04-07 · house · Floor

    Rules Committee Resolution H. Res. 294 Reported to House. Rule provides for consideration of S.J. Res. 18, S.J. Res. 28, H.R. 1526 and H.R. 22. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28.

  17. 2025-04-01 · house · Floor

    Rules Committee Resolution H. Res. 282 Reported to House. Rule provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18 and S.J. Res. 28. The resolution provides for consideration of H.R. 22, H.R. 1526, S.J. Res. 18, and S.J. Res. 28 under a closed rule. The resolution provides for one hour of debate on each measure and one motion to recommit on H.R. 22 and H.R. 1526, and one motion to commit on S.J. Res. 18 and S.J. Res. 28. The resolution also provides that H. Res. 23 and H. Res. 164 are laid on the table.

  18. 2025-03-31 · house · Floor

    Held at the desk.

  19. 2025-03-31 · house · Floor

    Received in the House.

  20. 2025-03-31 · senate · Floor

    Message on Senate action sent to the House.

  21. 2025-03-27 · senate · Floor

    Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)

  22. 2025-03-27 · Floor

    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.

  23. 2025-03-27 · senate · Floor

    Considered by Senate. (consideration: CR S1879, S1884)

  24. 2025-03-26 · senate · Floor

    Measure laid before Senate by motion. (consideration: CR S1864)

  25. 2025-03-26 · senate · Floor

    Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.

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