WHAT THE LAW DOINCongress, in plain words

S.J.Res. 18 · 119th Congress · Public Law 119-10

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

Became lawFinance and Financial Sector
IntroducedFeb 13, 2025
Passed SenateMar 27, 2025
Passed HouseApr 9, 2025
To PresidentMay 5, 2025
Became lawMay 9, 2025

What it does

Sourced

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.

Official summary by the Congressional Research Service (Public Law, May 9, 2025).

Our plain-language breakdown, with what it means for you and the case for and against, is written once a bill starts to move.

What has happened

Sourced
  1. 2025-05-09Became Public Law No: 119-10.Library of Congress
  2. 2025-05-09Signed by President.Library of Congress
  3. 2025-05-05Presented to President.Library of Congress
  4. 2025-04-09Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 211 (Roll no. 96). (text: CR H1519: 1) Roll call recordLibrary of Congress
  5. 2025-03-27Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 52 - 48. Record Vote Number: 153. Roll call recordLibrary of Congress
  6. 2025-02-13Introduced in SenateLibrary of Congress

Show all 30 recorded actions

After it became law

Sourced

Nothing in the Federal Register names Public Law 119-10 yet (checked Oct 27, 2026). Many laws need no new rules: they set penalties, name a building, or fund something directly.

Recorded votes

Sourced

Mar 26, 2025 · Senate roll call 152 · needed 1/2

On the Motion to Proceed: Motion to Proceed Agreed to 52–47

R 52 yes, 1 noI 0 yes, 2 noD 0 yes, 44 no, 1 present or not voting

How each member voted · Official record

Mar 27, 2025 · Senate roll call 153 · needed 1/2

On the Joint Resolution: Joint Resolution Passed 52–48

R 52 yes, 1 noI 0 yes, 2 noD 0 yes, 45 no

How each member voted · Official record

Apr 9, 2025 · House roll call 96 · needed 1/2

On Passage: Passed 217–211

R 217 yes, 1 no, 2 present or not votingD 0 yes, 210 no, 3 present or not voting

How each member voted · Official record

Cosponsors

  • John Boozman R-AR
  • Katie Boyd Britt R-AL
  • Kevin Cramer R-ND
  • Mike Crapo R-ID
  • Steve Daines R-MT
  • Bill Hagerty R-TN
  • Mike Lee R-UT
  • Cynthia M. Lummis R-WY
  • Jerry Moran R-KS
  • Bernie Moreno R-OH
  • Pete Ricketts R-NE
  • James E. Risch R-ID
  • Mike Rounds R-SD
  • John Thune R-SD
  • Thom Tillis R-NC
  • Roger F. Wicker R-MS