S.J.Res. 18 Became law · Public Law 119-10 Finance and Financial Sector

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

Introduced
Committee
Passed Senate
Passed House
To President
Became law

Sponsor Sen. Scott, Tim [R-SC] Introduced February 13, 2025 Cosponsors 16 (16 R) Latest action May 9, 2025

Summary

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

HouseApr 9, 2025·Roll 96·S.J.Res. 18
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions”
On Passage

Passed217–211
R 217–1 D 0–210
SenateMar 27, 2025·Roll 153·S.J.Res. 18
S.J.Res. 18
On the Joint Resolution S.J.Res. 18

Joint Resolution Passed52–48
R 52–1 D 0–45 I 0–2
SenateMar 26, 2025·Roll 152·S.J.Res. 18
Motion to Proceed to S.J.Res. 18
On the Motion to Proceed S.J.Res. 18

Motion to Proceed Agreed to52–47
R 52–1 D 0–44 I 0–2

Actions

May 9, 2025 Became Public Law No: 119-10.
May 9, 2025 Signed by President.
May 5, 2025 Presented to President.
Apr 9, 2025 Motion to reconsider laid on the table Agreed to without objection.
Apr 9, 2025 On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519)
Apr 9, 2025 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1)
Apr 9, 2025 Considered as unfinished business. (consideration: CR H1533)
Apr 9, 2025 POSTPONED PROCEEDINGS - At the conclusion of debate on S.J. Res. 18, the Chair put the question on passage of the joint resolution and by voice vote, announced that the ayes had prevailed. Mr. Hill (AR) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Apr 9, 2025 The previous question was ordered pursuant to the rule.
Apr 9, 2025 DEBATE - The House proceeded with one hour of debate on S.J. Res. 18.
Apr 9, 2025 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.
Apr 9, 2025 Considered under the provisions of rule H. Res. 294. (consideration: CR H1519-1525)
Apr 7, 2025 Rules 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.
Apr 1, 2025 Rules 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.
Mar 31, 2025 Held at the desk.
Mar 31, 2025 Received in the House.
Mar 31, 2025 Message on Senate action sent to the House.
Mar 27, 2025 Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. (text: CR S1884)
Mar 27, 2025 Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153.
Mar 27, 2025 Considered by Senate. (consideration: CR S1879, S1884)
Mar 26, 2025 Measure laid before Senate by motion. (consideration: CR S1864)
Mar 26, 2025 Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 47. Record Vote Number: 152.
Mar 26, 2025 Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
Mar 26, 2025 Senate Committee on Banking, Housing, and Urban Affairs discharged, by petition, pursuant to 5 U.S.C. 802(c).
Feb 13, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 13, 2025 Introduced in Senate

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