Legislation· May 2026Sponsored by Chris Van Hollen (D)
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices".
Would reject a CFPB rule on improper overdraft opt-in practices.
Tradeoff
Would block the Consumer Financial Protection Bureau's 2024 guidance on overdraft fees. The rule would no longer take effect if Congress disapproves it.
What's in it
The Senate rejected a to this resolution on May 13, 2026, by a vote of 47-53. The bill remains in the Senate.
Senate
Introduced
(Mar 18, 2026)
Senate
Committee on Banking, Housing, and Urban Affairs(Mar 18, 2026)
Senate
Taken away from the Committee on Banking, Housing, and Urban Affairs
Discharged by petition(Apr 27, 2026)
A petition forced the committee to release the bill without acting on it.
Senate
On the
Motion to Proceed to S. J. Res. 130
Motion to Proceed Rejected(Roll #123 · May 13, 2026)
47 yeanay 53
Recently introduced · no floor action yet