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

Held at the desk.

Bill 119 SJRes 18 is a joint resolution that aims to disapprove of a rule submitted by the Bureau of Consumer Financial Protection regarding "Overdraft Lending: Very Large Financial Institutions." The rule in question pertains to the regulations surrounding overdraft lending practices by major financial institutions.

The resolution seeks to challenge and ultimately reject the rule put forth by the Bureau of Consumer Financial Protection, which aims to address concerns related to overdraft lending practices by very large financial institutions. The rule likely includes provisions aimed at increasing transparency, consumer protection, and oversight of overdraft lending practices to ensure that consumers are not taken advantage of by these institutions.

If passed, this joint resolution would effectively nullify the rule submitted by the Bureau of Consumer Financial Protection, preventing it from being implemented and enforced. This resolution is likely to spark debate among lawmakers, with proponents arguing that the rule is necessary to protect consumers from predatory lending practices, while opponents may argue that it imposes unnecessary regulations on financial institutions. Overall, Bill 119 SJRes 18 is a significant piece of legislation that has the potential to impact the way very large financial institutions conduct their overdraft lending practices. It will be interesting to see how lawmakers on both sides of the aisle respond to this resolution and whether it ultimately passes into law.