Overturning the CFPB Overdraft Fee Rule

What this does

Using the Congressional Review Act, this resolution voids the Consumer Financial Protection Bureau's final rule titled Overdraft Lending: Very Large Financial Institutions, published at 89 Fed. Reg. 106768 on December 30, 2024. That rule had tightened how banks and credit unions with more than $10 billion in assets could charge overdraft fees, treating some overdraft programs as covered credit. Once this resolution takes effect, the rule has no force or effect. Under the Congressional Review Act, the agency may not reissue it in substantially the same form without new authorization from Congress.