Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".

Ordered to be Reported by the Yeas and Nays: 30 - 19.

Bill 119 hjres 59, also known as the Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions," is a piece of legislation currently being considered by the US Congress. The bill aims to reject a rule proposed by the Bureau of Consumer Financial Protection that pertains to how very large financial institutions handle overdraft lending.

The rule in question seeks to regulate how these institutions provide overdraft protection to their customers, particularly focusing on ensuring that consumers are not unfairly burdened with excessive fees and charges. Supporters of the rule argue that it is necessary to protect consumers from predatory lending practices and to promote transparency in the financial industry.

However, opponents of the rule, including those in favor of Bill 119 hjres 59, argue that the rule would impose unnecessary regulations on financial institutions, potentially limiting their ability to offer overdraft protection to consumers. They believe that the rule could ultimately harm consumers by restricting their access to credit and increasing costs for financial institutions. As the bill continues to be debated in Congress, it remains to be seen whether it will ultimately be passed and the rule will be rejected. Supporters and opponents of the rule will likely continue to advocate for their respective positions as the legislative process unfolds.