House · SJRES 18 · 119th Congress
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
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Summary
This resolution cancels a federal rule that would have limited overdraft fees at very large banks. The rule would have capped those fees at five dollars or required banks to treat overdrafts as loans with full disclosures. Customers who overdraw their bank accounts are affected most directly.
In Favor
Large banks currently charge overdraft fees averaging around $35 per transaction. Canceling this rule lets banks set their own fee levels based on actual costs and competition. Supporters say a government-set price cap could push banks to limit overdraft services, leaving customers with fewer options when they need short-term coverage.
Against
The canceled rule would have cut overdraft fees to as low as five dollars at the biggest banks. People with low balances pay these fees most often, and high fees can quickly drain already tight budgets. Blocking the rule removes a direct protection that would have saved many customers money on every overdraft.
Additional Considerations
Purpose & Problem
Is the problem real and worth federal action?
Congress used this resolution to cancel a federal agency rule before it could take effect. The rule would have changed how very large banks charge customers when their account does not have enough money to cover a payment.
Scope & Related Provisions
Does it stay focused, or carry unrelated add-ons?
The resolution focuses entirely on canceling one specific agency rule about overdraft charges at very large banks. The provisions stay on topic.
Who Is Affected
Who benefits, and who bears the cost?
Customers at very large banks would no longer receive the charge limits the rule required. Very large banks would not face the new overdraft charge caps or the new paperwork requirements the rule set.
Cost & Funding
Is it affordable and responsibly funded?
The resolution itself does not authorize or spend federal money. Canceling the rule removes costs that very large banks would have faced to comply with the charge caps and new reporting duties.
Risks & Implementation
What could go wrong in practice?
Once Congress cancels a rule this way, the agency cannot issue a new rule that is substantially the same without new legal authority. No replacement rule or process is described in the bill text.
For the actual bill text, see congress.gov.
AI-generated · Published 7/22/2026