This bill would cancel a CFPB rule issued in December 2024 that regulated overdraft fees at "very large financial institutions," generally banks with more than $10 billion in assets. Using the Congressional Review Act, it would void the rule entirely and bar the CFPB from issuing a substantially similar rule without new congressional authorization.

Resolution would scrap CFPB rule limiting big bank overdraft fees

Placed on the calendarH.J.Res. 59Latest action Mar 21, 2025

Sponsor: J. French Hill · Representative · AR

AIDecoded by AI · checked against the record

Read the official text

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

119th Congress

Topics: Jobs & the economy

Introduced: February 13, 2025

Read the official bill on Congress.gov

In plain words

The plain-language version comes first. The official text is always the reference.

This bill would cancel the CFPB's 2024 rule limiting overdraft fees at banks with over $10 billion in assets.

45-second read · 4 questions answered below

What does this do?

This bill would cancel a CFPB rule issued in December 2024 that regulated overdraft fees at "very large financial institutions," generally banks with more than $10 billion in assets. Using the , it would void the rule entirely and bar the CFPB from issuing a substantially similar rule without new congressional authorization.

Who does it affect?

Customers of large banks who overdraw their checking accounts, and the large banks themselves that would have faced new fee limits and compliance requirements. Smaller banks and credit unions are not directly affected.

Why does it matter?

If passed, large banks would avoid new limits on overdraft fees and would not have to treat certain fees as loans subject to consumer lending protections. Customers of those banks would lose the fee caps and protections the rule would have provided.

AI-drafted summary. Check it against the official text before you act on it.

Read the official bill on Congress.gov

Make the call

Three steps: where you stand, your script, the call.

Where do you stand?

Where does it stand?

IntroducedFeb 13, 2025
House committee
House voteYou are here · Mar 21, 2025
Senate
The president's desk

Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.

Latest action: March 21, 2025 — Placed on the Union Calendar, Calendar No. 16.

See how a call works

Share on WhatsApp

How it's being covered

Coverage of this bill from across the press. Each outlet's political lean is labeled where AllSides has rated it, and marked "Not rated" where it has not.

Newest of these articles: Apr 15, 2025

Coverage of this bill so far comes from one side of the spectrum. Read it with that in mind.

cnet.com
Not rated
House Votes to Overturn Overdraft Fee Limit. Here's How to Avoid the Penalty
Apr 15, 2025
“The CFPB had previously capped fees at $5 but you can still find banks that don't charge them.” — cnet.com
abcnews.go.com
Leans left
House votes to overturn Biden-era rule limiting bank overdraft fees to $5, sends to Trump to sign
Apr 9, 2025
“The House has voted to overturn a rule that would have limited bank overdraft fees to $5, following the Senate in moving to dismantle the Biden-era regulation t...” — abcnews.go.com

Lean labels describe the news outlet, not this bill or any party. Ratings by AllSides.