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Rejection of Overdraft Fee Rules for Large Banks

The U.S. Congress has rejected new rules concerning overdraft fees that were intended for very large financial institutions. This means that the existing rules for overdraft charges remain unchanged, which may affect the costs incurred by bank customers.
Key points
U.S. Congress disapproved new overdraft lending rules for large banks.
The rejected rules aimed to introduce new regulations for very large financial institutions.
No changes to current overdraft fee regulations.
article Official text account_balance Process page
VOTING RESULTS
2025-04-09
51%
For 217
Against 211
Abstain 0
Full voting results open_in_new
Became Law
Citizen Poll
No votes cast
Additional Information
Print number: 119_SJRES_18
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2025-02-13
Voting date: 2025-04-09
Meeting no: 1
Voting no: 96
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

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

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_SJRES_18.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-13.

What are the main provisions?

Key points include:

  • U.S. Congress disapproved new overdraft lending rules for large banks.
  • The rejected rules aimed to introduce new regulations for very large financial institutions.
  • No changes to current overdraft fee regulations.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 119-10.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy