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SJRES18FEDERALSession 119Federal BillSigned into law

Enacted

Congress Overturns CFPB Overdraft Lending Rule

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

Last action · May 9, 2025: Became Public Law No: 119-10.Sponsors: Tim Scott and 16 others

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

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What This Bill Does

Congress has officially blocked a new federal rule that would have regulated overdraft fees charged by very large financial institutions. This resolution declares the rule void, meaning it will not take effect or be enforced.

Why it matters

This action prevents new federal restrictions on how large banks charge overdraft fees, maintaining the current fee structures for millions of bank customers.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Very large financial institutions

These institutions are no longer subject to the specific overdraft lending requirements outlined in the disapproved CFPB rule.

Directly affected

Bank customers

Customers of very large financial institutions will continue to be subject to existing overdraft fee policies rather than the new regulations that were blocked.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Does this mean overdraft fees are changing?

No. By disapproving the new rule, Congress has prevented the proposed changes to regulations from taking effect, meaning existing bank policies remain in place.

What is the status of the CFPB rule?

The rule is void and has no legal force or effect.

What else do you want to know?

News Coverage

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Votes, people, money & the original source

Where This Stands

Current status: Signed into law.

Procedural history

26 actions

May 9, 2025PresidentEnrolled
Became Public Law No: 119-10.
May 9, 2025PresidentEnrolled
Signed by President.
May 5, 2025PresidentEnrolled
Presented to President.
Apr 9, 2025House
Motion to reconsider laid on the table Agreed to without objection.
Apr 9, 2025HouseFloor
On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)
Apr 9, 2025HouseFloor
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)

Show 20 earlier actions

Apr 9, 2025House
Considered as unfinished business. (consideration: CR H1533)
Apr 9, 2025House
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.
Apr 9, 2025House
The previous question was ordered pursuant to the rule.
Apr 9, 2025House
DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.
Apr 9, 2025House
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.
Apr 9, 2025House
Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)
Apr 7, 2025House
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.
Apr 1, 2025House
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.
Mar 31, 2025House
Held at the desk.
Mar 31, 2025House
Received in the House.
Mar 31, 2025Senate
Message on Senate action sent to the House.
Mar 27, 2025SenateFloor
Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)
Mar 27, 2025SenateFloor
Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.
Mar 27, 2025Senate
Considered by Senate. (consideration: CR S1879, S1884)
Mar 26, 2025Senate
Measure laid before Senate by motion. (consideration: CR S1864)
Mar 26, 2025Senate
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.
Mar 26, 2025Senate
Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
Mar 26, 2025Senate
Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Feb 13, 2025SenateCommittee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 13, 2025SenateIntroduced
Introduced in Senate

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

What This Bill Does

Who It Affects

Key Facts

Frequently Asked Questions

News Coverage

Where This Stands

Procedural history

Version history

Voting Record

Full breakdown

Sponsors

Discoveries

Regulatory Nullification

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