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

3/13/2025, 10:56 AM

Summary of Bill SJRES 18

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.

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Current Status of Bill SJRES 18

Bill SJRES 18 is currently in the status of Bill Introduced since February 13, 2025. Bill SJRES 18 was introduced during Congress 119 and was introduced to the Senate on February 13, 2025.  Bill SJRES 18's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 13, 2025

Bipartisan Support of Bill SJRES 18

Total Number of Sponsors
6
Democrat Sponsors
0
Republican Sponsors
6
Unaffiliated Sponsors
0
Total Number of Cosponsors
30
Democrat Cosponsors
0
Republican Cosponsors
30
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill SJRES 18

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill SJRES 18

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".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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Sponsors and Cosponsors of SJRES 18

R
Tim Scott
South Carolina(Republican)
R
Cynthia M. Lummis
Wyoming(Republican)
R
Pete Ricketts
Nebraska(Republican)
R
Bernie Moreno
Ohio(Independent)
R
Jerry Moran
Kansas(Republican)
R
Mike Crapo
Idaho(Republican)

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