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

# Summary of S.J.RES 18: Overdraft Fee Rule Disapproval **What the bill does:** This bill cancels a Consumer Financial Protection Bureau (CFPB) rule that would have limited overdraft fees at large banks. The original rule, finalized in December 2024, would have required banks to either cap overdraft charges at $5 per transaction, justify any higher fees, or treat overdrafts as credit subject to lending disclosure rules. By signing this resolution into law, Congress has effectively rejected these regulations. **Who it affects:** The rule primarily affects very large financial institutions (major banks) and their customers.

Bank customers who overdraw their accounts would have been protected by lower fees under the CFPB rule, while banks would have faced new restrictions on overdraft revenue. With the rule now nullified, banks can continue their current overdraft fee practices without these federal caps. **Current status:** The bill has been signed into law, meaning the CFPB's overdraft rule is no longer in effect. This represents a congressional rejection of the agency's regulatory action using a procedural tool that allows Congress to disapprove recent regulations issued by federal agencies.