Banking: Blocking New Rules for Bank Overdraft Fees
The House must act next: a House floor vote.
This resolution has strong support in the House and will likely pass there, but its success in the Senate depends on the current political balance and the president's willingness to sign it.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Servicemembers, especially younger enlisted personnel who bank with large national banks near military installations, are frequent users of overdraft services and often face repeated fees due to irregular deployment-related pay timing. Blocking the CFPB rule means these fees continue at current levels instead of being capped.
Placed on the Union Calendar, Calendar No. 16.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Reported by the Committee on Financial Services. H. Rept. 119-26.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Ordered to be Reported by the Yeas and Nays: 30 - 19.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
President Trump signed a Congressional Review Act resolution nullifying the CFPB's overdraft fee rule for large financial institutions. The move prevents the agency from issuing a 'substantially similar' rule in the future, effectively maintaining the current fee structures used by big banks.
Congress has successfully used the Congressional Review Act to block a Biden-era regulation that would have slashed bank overdraft fees from an average of $35 to just $5. The repeal means large banks can continue to impose penalties according to their own fee schedules without federal caps.
No votes recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Analysis generated by AI. Always verify with official sources.