S.J.Res. 18: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
A Senate joint resolution (S.J.Res.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate joint resolution (S.J.Res.) |
| Originating chamber | Senate |
| Introduced | 2025-02-13 |
| Sponsor | Sen. Scott, Tim [R-SC] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 16 |
| Latest action | 2025-05-09 — Became Public Law No: 119-10. |
| Last updated | 2026-07-27 |
Summary
Official summary (Introduced in Senate, 2025-02-13):
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Overdraft Lending: Very Large Financial Institutions and published on December 30, 2024. The rule revises provisions regarding charges for insufficient funds in a customer’s bank account (i.e., overdrafts) at very large financial institutions. Under the rule, these institutions must (1) cap overdraft charges at $5; (2) with justification, cap charges at a higher amount; or (3) handle overdrafts as credit and comply with applicable Truth in Lending Act disclosure requirements.
Cosponsors (16)
| Name | Party / state |
|---|---|
| Mike Rounds | R SD (original cosponsor) 2025-02-13 |
| Bill Hagerty | R TN (original cosponsor) 2025-02-13 |
| Mike Crapo | R ID (original cosponsor) 2025-02-13 |
| Thom Tillis | R NC (original cosponsor) 2025-02-13 |
| Kevin Cramer | R ND (original cosponsor) 2025-02-13 |
| Katie Boyd Britt | R AL (original cosponsor) 2025-02-13 |
| Jerry Moran | R KS (original cosponsor) 2025-02-13 |
| James E. Risch | R ID (original cosponsor) 2025-02-13 |
| John Boozman | R AR (original cosponsor) 2025-02-13 |
| Roger F. Wicker | R MS (original cosponsor) 2025-02-13 |
| Cynthia M. Lummis | R WY (original cosponsor) 2025-02-13 |
| Pete Ricketts | R NE (original cosponsor) 2025-02-13 |
| Bernie Moreno | R OH (original cosponsor) 2025-02-13 |
| Mike Lee | R UT 2025-02-19 |
| Steve Daines | R MT 2025-03-04 |
| John Thune | R SD 2025-03-12 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S.J.Res. 18 are published by Congress on congress.gov.
View S.J.Res. 18 on congress.gov →
Frequently asked questions
What is S.J.Res. 18?
S.J.Res. 18 is a Senate joint resolution (S.J.Res.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions"..
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S.J.Res. 18 are available on congress.gov.
Bill data: congress.gov API (official congressional records).