A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
USA119th CongressSJRES-18| Senate
| Updated: 5/9/2025
Tim Scott
Republican Senator
South Carolina
Cosponsors (16)
Katie Boyd Britt (Republican)Thomas Tillis (Republican)Jerry Moran (Republican)Mike Lee (Republican)James E. Risch (Republican)Cynthia M. Lummis (Republican)Roger F. Wicker (Republican)John Boozman (Republican)John Thune (Republican)Mike Rounds (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)Bernie Moreno (Republican)Pete Ricketts (Republican)Steve Daines (Republican)Mike Crapo (Republican)
Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This joint resolution formally disapproves a specific final rule issued by the Bureau of Consumer Financial Protection (BCFP) related to overdraft lending . The targeted rule, titled "Overdraft Lending: Very Large Financial Institutions," was published in the Federal Register on December 30, 2024. By enacting this resolution, Congress ensures that the BCFP's regulation concerning overdraft practices for these institutions will be nullified. As a direct consequence, the disapproved rule will possess no legal authority or practical impact, effectively preventing its implementation.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
Measure laid before Senate by motion. (consideration: CR S1864)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.
View VoteSenate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)
View VoteConsidered by Senate. (consideration: CR S1879, S1884)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
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.
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.
Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)
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.
DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.
The previous question was ordered pursuant to the rule.
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.
Considered as unfinished business. (consideration: CR H1533)
Considered as unfinished business. (consideration: CR H1533: 1)
On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Presented to President.
Signed by President.
Became Public Law No: 119-10.
Finance and Financial Sector
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauUser charges and fees
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
USA119th CongressSJRES-18| Senate
| Updated: 5/9/2025
This joint resolution formally disapproves a specific final rule issued by the Bureau of Consumer Financial Protection (BCFP) related to overdraft lending . The targeted rule, titled "Overdraft Lending: Very Large Financial Institutions," was published in the Federal Register on December 30, 2024. By enacting this resolution, Congress ensures that the BCFP's regulation concerning overdraft practices for these institutions will be nullified. As a direct consequence, the disapproved rule will possess no legal authority or practical impact, effectively preventing its implementation.
Suggested 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.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
Measure laid before Senate by motion. (consideration: CR S1864)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.
View VoteSenate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)
View VoteConsidered by Senate. (consideration: CR S1879, S1884)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
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.
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.
Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)
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.
DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.
The previous question was ordered pursuant to the rule.
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.
Considered as unfinished business. (consideration: CR H1533)
Considered as unfinished business. (consideration: CR H1533: 1)
On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Presented to President.
Signed by President.
Became Public Law No: 119-10.
Tim Scott
Republican Senator
South Carolina
Cosponsors (16)
Katie Boyd Britt (Republican)Thomas Tillis (Republican)Jerry Moran (Republican)Mike Lee (Republican)James E. Risch (Republican)Cynthia M. Lummis (Republican)Roger F. Wicker (Republican)John Boozman (Republican)John Thune (Republican)Mike Rounds (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)Bernie Moreno (Republican)Pete Ricketts (Republican)Steve Daines (Republican)Mike Crapo (Republican)
Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- HRES 119-294: Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions"; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications"; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.
- HRES 119-282: Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions''; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ''Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications''; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.
- HJRES 119-59: Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauUser charges and fees