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SJRES 18 Became law

Overturns the Consumer Financial Protection Bureau's final rule limiting overdraft lending fees at very large banks, so that rule has no force or effect.

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

Outcome Public Law 119-10
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Received 31-MAR-2025
On the calendar 01-APR-2025
Passed 09-APR-2025
Senate
Introduced 13-FEB-2025
Referred 13-FEB-2025
On the calendar 26-MAR-2025
Passed 27-MAR-2025
President
Presented 05-MAY-2025
Signed 09-MAY-2025
Became law 09-MAY-2025
Key points
  • Disapproves the Bureau of Consumer Financial Protection final rule titled "Overdraft Lending: Very Large Financial Institutions," published at 89 Fed. Reg. 106768 on December 30, 2024
  • Declares that the rule shall have no force or effect
  • Passed the Senate on March 26 and 27, 2025, and the House on April 9, 2025
AI-generated from the Public Law text of 10-MAY-2025 · verify · report an error
Official CRS summary

Current. The Congressional Research Service's summary covers the bill's latest wording (Public Law, 09-MAY-2025).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov
Committee referrals (1) Policy area

Finance and Financial Sector

Sponsor Tim Scott (R-SC) Cosponsors · 16
■ 16 R
16 Republicans
congress.gov page Public Law (10-MAY-2025) Engrossed in Senate (27-MAR-2025) Placed on Calendar Senate (26-MAR-2025) Introduced in Senate (13-FEB-2025) Enrolled Bill Senate: Motion to proceed to consideration of measure agreed to in..., 52-47, 26-MAR-2025 Senate: Passed Senate without amendment, 52-48, 27-MAR-2025 House: On passage Passed, 217-211, 09-APR-2025