VoterlyS.J.Res. 18: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
119th Congress · Sponsored from South Carolina · Became law
What this bill does
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.
Key facts
- Status Became law
- Introduced 2025-02-13
- Policy area Finance and Financial Sector
- Cosponsors 16
- Latest action Became Public Law No: 119-10.
Sponsor
Who is behind this bill?
Sen. Scott, Tim [R-SC] introduced S.J.Res. 18. To see who funds Sen. Scott, Tim [R-SC]'s campaigns, view their top donors from public Federal Election Commission records.
See Sen. Scott, Tim [R-SC]'s donors →
Note: campaign donations show who funds the sponsor, not who drafted or lobbied for the bill. Lobbying-on-this-bill and model-legislation data are separate public records (see the FAQ).
Take a position
Agree or disagree with S.J.Res. 18? Go to the homepage to record your view, see how others in your district feel, and compare your stance with how your representatives vote.
Read the official text on Congress.gov →
Frequently asked questions
What does S.J.Res. 18 do?
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 b…
Who sponsored S.J.Res. 18?
Sen. Scott, Tim [R-SC] (R) of South Carolina is the lead sponsor.
How do I find out who funds or lobbies for S.J.Res. 18?
Campaign-finance records (Federal Election Commission) show who funds the bill's sponsor. Separately, federal lobbying disclosures filed under the Lobbying Disclosure Act list the companies and lobbyists who reported lobbying on specific bills. Voterly links the sponsor's donors; lobbying records are public at the U.S. Senate and House lobbying databases.
Is S.J.Res. 18 now law?
Yes — the latest action indicates S.J.Res. 18 became law.