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)".
USA118th CongressSJRES-70| Senate
| Updated: 4/8/2024
Tim Scott
Republican Senator
South Carolina
Cosponsors (15)
Tommy Tuberville (Republican)Mike Braun (Republican)Katie Boyd Britt (Republican)Thomas Tillis (Republican)Jerry Moran (Republican)Mike Lee (Republican)Marsha Blackburn (Republican)John Boozman (Republican)John Thune (Republican)Mike Rounds (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)John Barrasso (Republican)Steve Daines (Republican)Ted Budd (Republican)
Banking, Housing, and Urban Affairs 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 Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
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)".
USA118th CongressSJRES-70| Senate
| Updated: 4/8/2024
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
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Tim Scott
Republican Senator
South Carolina
Cosponsors (15)
Tommy Tuberville (Republican)Mike Braun (Republican)Katie Boyd Britt (Republican)Thomas Tillis (Republican)Jerry Moran (Republican)Mike Lee (Republican)Marsha Blackburn (Republican)John Boozman (Republican)John Thune (Republican)Mike Rounds (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)John Barrasso (Republican)Steve Daines (Republican)Ted Budd (Republican)
Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- 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)".
- HJRES 118-121: 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