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 the withdrawal of the rule relating to "Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices".
Bank Fees: Blocking the Removal of Protections Against Bounced Check Fees
This bill is currently in the early stages of the legislative process after being sent to the House Committee on Financial Services for review. No further actions or hearings have been scheduled at this time. The bill is considered active but is not currently moving forward.
Legislative Progress
This resolution challenges a specific agency action and would need to pass both the House and Senate, which is difficult without broad bipartisan support.
Key Points
- This resolution aims to stop a government rule that would have removed protections for bank customers. It specifically targets a decision to withdraw guidance that labeled certain bank fees as unfair.
- The fees in question are charged when you deposit a check that later bounces. Even though it is not your fault the other person had no money, many banks charge you a fee for the returned item. This policy wants to keep the rules that discourage banks from doing this.
- If this resolution passes, the government would be forced to keep its previous stance that these fees are often unfair to consumers. This would make it harder for banks to restart or increase these charges on everyday people.
- This action is part of a larger debate over how much power agencies have to change rules without input from Congress. By using this specific type of resolution, lawmakers are trying to directly cancel an agency's decision.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
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 the withdrawal of the rule relating to "Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices".
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.