Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".
USA118th CongressHJRES-121| House
| Updated: 3/26/2024
Andrew Ogles
Republican Representative
Tennessee
Cosponsors (5)
Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Credit Card Penalty Fees (Regulation Z) and published on March 15, 2024. The rule lowers the safe-harbor cap on certain credit card late fees. In particular, late fees allowed under safe-harbor provisions must be capped at $8 when charged by a large credit card issuer. This cap is not subject to annual adjustment to reflect inflation.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".
USA118th CongressHJRES-121| House
| Updated: 3/26/2024
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Credit Card Penalty Fees (Regulation Z) and published on March 15, 2024. The rule lowers the safe-harbor cap on certain credit card late fees. In particular, late fees allowed under safe-harbor provisions must be capped at $8 when charged by a large credit card issuer. This cap is not subject to annual adjustment to reflect inflation.
View Full TextSuggested Questions
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Andrew Ogles
Republican Representative
Tennessee
Cosponsors (5)
Financial Services Committee
Finance and Financial Sector
Related Bills
- SJRES 118-70: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".
- HJRES 118-122: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Credit Card Penalty Fees (Regulation Z)".
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted