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A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Overdraft Lending: Very Large Financial Institutions and published on December 30, 2024. The rule revises provisions regarding charges for insufficient funds in a customer’s bank account (i.e., overdrafts) at very large financial institutions. Under the rule, these institutions must (1) cap overdraft charges at $5; (2) with justification, cap charges at a higher amount; or (3) handle overdrafts as credit and comply with applicable Truth in Lending Act disclosure requirements.
House floor actionsConsidered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)
Library of CongressPassed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)
Floor Vote
House floor actionsRules 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.
House floor actionsRules 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.
SenateMessage on Senate action sent to the House.
House floor actionsReceived in the House.
SenateConsidered by Senate. (consideration: CR S1879, S1884)
Library of CongressPassed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.
SenateSenate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Library of CongressIntroduced in Senate
SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced
Committee
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What Congress Said
Members who spoke about this bill on the floor, in their own words from the Congressional Record.
Republicans18 spoke
During consideration of this resolution, all time yielded is for the purpose of debate only.
Pursuant to House Resolution 294, I call up 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,'' and ask for its immediate consideration in the House.
Broadband deployment has long been a priority of mine. It is something that is important to my home State of South Dakota where many rural communities still lack access to reliable internet connection. And it is something I have worked extensively here on in the Senate.
There is a growing demand for critical minerals, and America must boost our mining workforce in order to meet it. That is why, this week, I have introduced bipartisan legislation to support our mining schools.
Let me set the record straight, Mr. Speaker. This resolution of disapproval doesn't increase fees, as my friends on the other side of the aisle insinuate. In fact, what it does do is it invalidates a regulation that will take this critical lifeline away from many of my constituents.
I rise in opposition to this rule. As many of you might know, for over 2 years now I have been championing the cause to allow new female Members of Congress the right to vote. Some of the American people might be surprised that if you are a female Member and you have a child, that you can't vote.
The Bureau's overdraft rule would implement government price controls over a product that has proven necessary for consumers to make day-to-day purchases.
I am going to ask my colleagues, as a reminder, that there are some tricks of the trade to get to your political enemies or for other reasons like covering up embarrassing situations or just to cover up wrongdoing.
First of all, I rise in full support of this rule. As I told my good friends in the Rules Committee today, you are not going to lecture me on compassion. You are not going to lecture me on being kind to the poor and the forgotten.
I urge my colleagues to vote for this resolution in defense of financial institutions that choose to extend overdraft lifelines to their customers who need them.
I rise today in support of the resolution disapproving of the rule submitted by the CFPB relating to overdraft lending very large financial institutions.
I rise in support of this resolution to overturn a ludicrous rule which imposes government price controls on financial institutions across the country.
I rise in support of the resolution to overturn the CFPB's overdraft rule. This is a classic midnight maneuver from the previous administration that ignored market realities.
The gentlewoman just said that the Speaker is very much in support of family values, yet he has a problem with allowing new moms and dads to be able to vote by proxy. He seems to have no problem with Republican Members flying to the West Coast, filming comedy shows in Hollywood, and voting by proxy.
I rise in complete opposition to yet another harmful bill put forth by Republicans, S.J. Res. 18, a resolution to allow the biggest banks to increase fees on their customers. You heard me right. I said this resolution will increase bank fees, and it will
Mr. President and colleagues, back in 1974, the Senate and the House were very agitated over the increases in the national annual deficit that was adding considerably to the national debt. They said we needed to do something about this. The levels that they were concerned about at that time seem so small, to date.
He delivered this address to a joint session of Congress to the American people--the one time each year when we are focused on the President's words--and he made these deliberate misrepresentations of the Social Security Administration.
I want to start by saying welcome back to my friends across the aisle. It is really nice to have them back here in the people's House, especially after last week.
That promissory note was that he told the American people on day one, inflation would go down. Prices would go down on day one, he said. Instead, what the President has done is, unleashed an economic chaos on the American people.
I rise in opposition today to the Republicans' voter suppression act. This bill is not about election integrity. This is not about ensuring that only citizens vote. This is about making it impossible for people and new voters to vote.
So first on tariffs, yesterday, President Trump announced a new round of tariffs of 25 percent on all auto imports into the United States, but we have no details, no timeline, no plan, only more chaos. Donald Trump's trade war has accomplished only one thing to date: chaos.
My amendment would prevent this bill from being implemented unless we get certification that it would not bar a single married woman in this country who is eligible to vote from the ballot box.
I rise on behalf of the Dads Caucus in support of Representative Luna's and Representative Pettersen's proxy voting bill that will allow new parents to spend a limited time, 12 weeks, with a newborn child. That is all we are asking.
I am here to commemorate liberation month. A week ago, Liberation Day brought us President Trump's tariffs which will liberate a typical American family from 3,800 of their hard-earned dollars each year, according to one study.
Literally, the Freedom Caucus could teach a clinic on Speaker hostage taking. If you don't like the bill, vote against it. Is the Freedom Caucus the only one with power? Is Chip Roy the only one who sits in these seats with power?
That is why I oppose this measure to overturn the Consumer Financial Protection--emphasis on ``Protection''--Bureau rule that caps overdraft fees by banks at $5.
I rise to explain why new moms cannot proxy vote. The issue is very simple, and the answer is even simpler to understand. It is because men don't have children.
My constituents are struggling with high costs and inflation, and more and more families are living paycheck to paycheck, and still the supporters of this bill are trying to increase their fees? I can't and I won't get behind that. It is out of touch.
I mentioned earlier that Democrats created a watchdog, the Consumer Financial Protection Bureau, to stop scams and protect everyday people. One of the most important things they have done
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